Loan Comparison: 5% vs 6.5%
5200 Memphis, Aurora, CO 80015 · 3bd/3ba · $629,900
List Price
$629,900
Assumable Rate
5%
Remaining Balance
$210,222
Equity Gap
$451,578
Loan Type
FHAAdjust Your Scenario
$31,495
$31,495$451,578
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 7.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 5% + gap loan
$4,359/moAssumed loan: $1,129/mo
Gap financing: $3,230/mo
Your Savings on This Property
5200 Memphis, Aurora · 5% 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 ($451,578) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($420,083 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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