Loan Comparison: 5.55% vs 6.5%
21962 44th, Aurora, CO 80019 · 5bd/4ba · $659,000
List Price
$659,000
Assumable Rate
5.55%
Remaining Balance
$526,888
Equity Gap
$132,851
Loan Type
FHAAdjust Your Scenario
$32,950
$32,950$132,851
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (FHA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,957/moAssumable @ 5.55% + gap loan
$3,776/moAssumed loan: $3,008/mo
Gap financing: $768/mo
$181less per month with the assumable
Your Savings on This Property
21962 44th, Aurora · 5.55% FHA vs 6.5% conventional
$181
per month
$2,169
per year
$65,069
over 30 years
$65,808
interest saved
How gap financing works: The equity gap ($132,851) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,950, 5% of purchase price) and a second mortgage for the rest ($99,901 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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