Loan Comparison: 2.94% vs 6.5%
2915 Lansing, Aurora, CO 80014 · 3bd/3ba · $345,000
List Price
$345,000
Assumable Rate
2.94%
Remaining Balance
$259,821
Equity Gap
$85,178
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$85,178
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 2.94% + gap loan
$1,609/moAssumed loan: $1,087/mo
Gap financing: $522/mo
$462less per month with the assumable
Your Savings on This Property
2915 Lansing, Aurora · 2.94% FHA vs 6.5% conventional
$462
per month
$5,547
per year
$166,417
over 30 years
$166,416
interest saved
How gap financing works: The equity gap ($85,178) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($67,928 at 8.5%). 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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