Loan Comparison: 4.41% vs 6.5%
413 Kittredge Street, Aurora, CO 80017 · 4bd/2ba · $210,000
List Price
$210,000
Assumable Rate
4.41%
Remaining Balance
$182,685
Equity Gap
$27,314
Loan Type
FHAAdjust Your Scenario
$10,500
$10,500$27,314
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.41% (FHA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 4.41% + gap loan
$1,033/moAssumed loan: $916/mo
Gap financing: $118/mo
$228less per month with the assumable
Your Savings on This Property
413 Kittredge Street, Aurora · 4.41% FHA vs 6.5% conventional
$228
per month
$2,730
per year
$81,905
over 30 years
$81,904
interest saved
How gap financing works: The equity gap ($27,314) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($16,814 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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