Loan Comparison: 6.85% vs 6.5%
247 Coolidge Way, Aurora, CO 80018 · 4bd/2ba · $612,000
List Price
$612,000
Assumable Rate
6.85%
Remaining Balance
$572,205
Equity Gap
$39,794
Loan Type
FHAAdjust Your Scenario
$30,600
$30,600$39,794
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.85% (FHA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,675/moAssumable @ 6.85% + gap loan
$3,814/moAssumed loan: $3,749/mo
Gap financing: $64/mo
Your Savings on This Property
247 Coolidge Way, Aurora · 6.85% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($39,794) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,600, 5% of purchase price) and a second mortgage for the rest ($9,194 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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