Loan Comparison: 2.96% vs 6.5%
18397 Alabama Place, Aurora, CO 80017 · 2bd/1ba · $295,000
List Price
$295,000
Assumable Rate
2.96%
Remaining Balance
$259,235
Equity Gap
$35,765
Loan Type
FHAAdjust Your Scenario
$14,750
$14,750$35,765
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.96% + gap loan
$1,234/moAssumed loan: $1,087/mo
Gap financing: $147/mo
$537less per month with the assumable
Your Savings on This Property
18397 Alabama Place, Aurora · 2.96% FHA vs 6.5% conventional
$537
per month
$6,445
per year
$193,345
over 30 years
$193,345
interest saved
How gap financing works: The equity gap ($35,765) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($21,015 at 7.5%). 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.
🏠
Back to This Listing
View photos, details, and request a showing for 18397 Alabama Place.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.