Loan Comparison: 4% vs 6.5%
23306 5th, Aurora, CO 80018 · 2bd/2ba · $309,900
List Price
$309,900
Assumable Rate
4%
Remaining Balance
$79,148
Equity Gap
$230,751
Loan Type
FHAAdjust Your Scenario
$15,495
$15,495$230,751
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 7.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 4% + gap loan
$2,033/moAssumed loan: $378/mo
Gap financing: $1,655/mo
Your Savings on This Property
23306 5th, Aurora · 4% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($230,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,495, 5% of purchase price) and a second mortgage for the rest ($215,256 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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