Loan Comparison: 4.75% vs 6.5%
3471 Buchanan Way, Aurora, CO 80019 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
4.75%
Remaining Balance
$414,495
Equity Gap
$60,504
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$60,504
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (FHA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.75% + gap loan
$2,419/moAssumed loan: $2,162/mo
Gap financing: $257/mo
$433less per month with the assumable
Your Savings on This Property
3471 Buchanan Way, Aurora · 4.75% FHA vs 6.5% conventional
$433
per month
$5,196
per year
$155,886
over 30 years
$155,885
interest saved
How gap financing works: The equity gap ($60,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($36,754 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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