Loan Comparison: 2.84% vs 6.5%
1135 Cathay Street, Aurora, CO 80247 · 2bd/2ba · $484,000
List Price
$484,000
Assumable Rate
2.84%
Remaining Balance
$313,525
Equity Gap
$170,474
Loan Type
FHAAdjust Your Scenario
$24,200
$24,200$170,474
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,906/moAssumable @ 2.84% + gap loan
$2,318/moAssumed loan: $1,295/mo
Gap financing: $1,023/mo
$589less per month with the assumable
Your Savings on This Property
1135 Cathay Street, Aurora · 2.84% FHA vs 6.5% conventional
$589
per month
$7,063
per year
$211,877
over 30 years
$211,876
interest saved
How gap financing works: The equity gap ($170,474) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,200, 5% of purchase price) and a second mortgage for the rest ($146,274 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 1135 Cathay Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.