Loan Comparison: 3.62% vs 6.5%
422 Uvalda Street, Aurora, CO 80012 · 5bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.62%
Remaining Balance
$296,679
Equity Gap
$143,320
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$143,320
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.62% + gap loan
$2,200/moAssumed loan: $1,352/mo
Gap financing: $848/mo
$442less per month with the assumable
Your Savings on This Property
422 Uvalda Street, Aurora · 3.62% FHA vs 6.5% conventional
$442
per month
$5,299
per year
$158,970
over 30 years
$158,969
interest saved
How gap financing works: The equity gap ($143,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($121,320 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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