Loan Comparison: 3.06% vs 6.5%
14782 Belleview, Aurora, CO 80015 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.06%
Remaining Balance
$390,277
Equity Gap
$59,723
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$59,723
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.06% + gap loan
$1,944/moAssumed loan: $1,658/mo
Gap financing: $286/mo
$758less per month with the assumable
Your Savings on This Property
14782 Belleview, Aurora · 3.06% FHA vs 6.5% conventional
$758
per month
$9,094
per year
$272,807
over 30 years
$272,807
interest saved
How gap financing works: The equity gap ($59,723) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($37,223 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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