Loan Comparison: 6.85% vs 6.5%
26236 Byers Place, Aurora, CO 80018 · 1bd/1ba · $436,000
List Price
$436,000
Assumable Rate
6.85%
Remaining Balance
$19,497
Equity Gap
$416,502
Loan Type
FHAAdjust Your Scenario
$21,800
$21,800$416,502
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.85% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,618/moAssumable @ 6.85% + gap loan
$2,888/moAssumed loan: $128/mo
Gap financing: $2,760/mo
Your Savings on This Property
26236 Byers Place, 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 ($416,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,800, 5% of purchase price) and a second mortgage for the rest ($394,702 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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