Loan Comparison: 4.25% vs 6.5%
21472 60th Avenue, Aurora, CO 80019 · 1bd/1ba · $684,000
List Price
$684,000
Assumable Rate
4.25%
Remaining Balance
$618,919
Equity Gap
$65,080
Loan Type
FHAAdjust Your Scenario
$34,200
$34,200$65,080
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (FHA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,107/moAssumable @ 4.25% + gap loan
$3,261/moAssumed loan: $3,045/mo
Gap financing: $216/mo
$847less per month with the assumable
Your Savings on This Property
21472 60th Avenue, Aurora · 4.25% FHA vs 6.5% conventional
$847
per month
$10,159
per year
$304,758
over 30 years
$304,757
interest saved
How gap financing works: The equity gap ($65,080) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,200, 5% of purchase price) and a second mortgage for the rest ($30,880 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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