Loan Comparison: 7.49% vs 6.5%
17996 Bails Place, Aurora, CO 80017 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
7.49%
Remaining Balance
$484,748
Equity Gap
$30,251
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$30,251
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.49% (FHA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 7.49% + gap loan
$3,418/moAssumed loan: $3,386/mo
Gap financing: $31/mo
Your Savings on This Property
17996 Bails Place, Aurora · 7.49% 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 ($30,251) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($4,501 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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