Loan Comparison: 3.31% vs 6.5%
1584 Fraser Way, Aurora, CO 80012 · 4bd/2ba · $525,000
List Price
$525,000
Assumable Rate
3.31%
Remaining Balance
$334,153
Equity Gap
$190,846
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$190,846
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.31% + gap loan
$2,616/moAssumed loan: $1,465/mo
Gap financing: $1,151/mo
$536less per month with the assumable
Your Savings on This Property
1584 Fraser Way, Aurora · 3.31% FHA vs 6.5% conventional
$536
per month
$6,435
per year
$193,060
over 30 years
$193,059
interest saved
How gap financing works: The equity gap ($190,846) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($164,596 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.
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