Loan Comparison: 2.78% vs 6.5%
2424 Salida Way, Aurora, CO 80206 · 1bd/1ba · $580,000
List Price
$580,000
Assumable Rate
2.78%
Remaining Balance
$468,130
Equity Gap
$111,869
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$111,869
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.78% (FHA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 2.78% + gap loan
$2,498/moAssumed loan: $1,919/mo
Gap financing: $579/mo
$985less per month with the assumable
Your Savings on This Property
2424 Salida Way, Aurora · 2.78% FHA vs 6.5% conventional
$985
per month
$11,817
per year
$354,498
over 30 years
$354,497
interest saved
How gap financing works: The equity gap ($111,869) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($82,869 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2424 Salida Way.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.