Loan Comparison: 4.05% vs 6.5%
21288 Powers, Aurora, CO 80015 · 3bd/2ba · $465,000
List Price
$465,000
Assumable Rate
4.05%
Remaining Balance
$349,696
Equity Gap
$197,154
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$197,154
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.05% + gap loan
$3,017/moAssumed loan: $1,680/mo
Gap financing: $1,337/mo
Your Savings on This Property
21288 Powers, Aurora · 4.05% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$991
interest saved
How gap financing works: The equity gap ($197,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($173,904 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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