Loan Comparison: 5.79% vs 6.5%
4271 Salida, Aurora, CO 80013 · 2bd/1ba · $239,000
List Price
$239,000
Assumable Rate
5.79%
Remaining Balance
$162,180
Equity Gap
$76,820
Loan Type
FHAAdjust Your Scenario
$11,950
$11,950$76,820
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.79% (FHA)
Blended Rate: 6.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,435/moAssumable @ 5.79% + gap loan
$1,449/moAssumed loan: $951/mo
Gap financing: $499/mo
Your Savings on This Property
4271 Salida, Aurora · 5.79% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($76,820) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,950, 5% of purchase price) and a second mortgage for the rest ($64,870 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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