Loan Comparison: 3.1% vs 6.5%
15137 Nassau Avenue, Aurora, CO 80014 · 3bd/1ba · $549,000
List Price
$549,000
Assumable Rate
3.1%
Remaining Balance
$463,753
Equity Gap
$85,246
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$85,246
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 3.1% + gap loan
$2,384/moAssumed loan: $1,980/mo
Gap financing: $404/mo
$912less per month with the assumable
Your Savings on This Property
15137 Nassau Avenue, Aurora · 3.1% FHA vs 6.5% conventional
$912
per month
$10,946
per year
$328,367
over 30 years
$328,366
interest saved
How gap financing works: The equity gap ($85,246) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($57,796 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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