Loan Comparison: 5% vs 6.5%
5200 Memphis Court, Aurora, CO 80015 · 2bd/2ba · $594,900
List Price
$594,900
Assumable Rate
5%
Remaining Balance
$176,690
Equity Gap
$418,209
Loan Type
FHAAdjust Your Scenario
$29,745
$29,745$418,209
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,572/moAssumable @ 5% + gap loan
$3,665/moAssumed loan: $949/mo
Gap financing: $2,716/mo
Your Savings on This Property
5200 Memphis Court, Aurora · 5% 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 ($418,209) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,745, 5% of purchase price) and a second mortgage for the rest ($388,464 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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