Loan Comparison: 3.1% vs 6.5%
1961 Ivory Way, Aurora, CO 80013 · 2bd/3ba · $399,973
List Price
$399,973
Assumable Rate
3.1%
Remaining Balance
$13,233
Equity Gap
$386,739
Loan Type
FHAAdjust Your Scenario
$19,999
$19,999$386,739
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 7.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.1% + gap loan
$2,621/moAssumed loan: $57/mo
Gap financing: $2,564/mo
Your Savings on This Property
1961 Ivory Way, Aurora · 3.1% 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 ($386,739) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,999, 5% of purchase price) and a second mortgage for the rest ($366,740 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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