Loan Comparison: 5.22% vs 6.5%
21962 44th, Aurora, CO 80019 · 5bd/4ba · $639,000
List Price
$639,000
Assumable Rate
5.22%
Remaining Balance
$527,514
Equity Gap
$113,022
Loan Type
FHAAdjust Your Scenario
$31,950
$31,950$113,022
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,837/moAssumable @ 5.22% + gap loan
$3,527/moAssumed loan: $2,903/mo
Gap financing: $623/mo
$310less per month with the assumable
Your Savings on This Property
21962 44th, Aurora · 5.22% FHA vs 6.5% conventional
$310
per month
$3,725
per year
$111,758
over 30 years
$113,294
interest saved
How gap financing works: The equity gap ($113,022) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,950, 5% of purchase price) and a second mortgage for the rest ($81,072 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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