Loan Comparison: 3% vs 6.5%
1192 Zeno, Aurora, CO 80017 · 2bd/2ba · $282,999
List Price
$282,999
Assumable Rate
3%
Remaining Balance
$262,654
Equity Gap
$20,344
Loan Type
FHAAdjust Your Scenario
$14,150
$14,150$20,344
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (FHA)
Blended Rate: 3.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,699/moAssumable @ 3% + gap loan
$1,155/moAssumed loan: $1,107/mo
Gap financing: $48/mo
$544less per month with the assumable
Your Savings on This Property
1192 Zeno, Aurora · 3% FHA vs 6.5% conventional
$544
per month
$6,532
per year
$195,956
over 30 years
$195,955
interest saved
How gap financing works: The equity gap ($20,344) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,150, 5% of purchase price) and a second mortgage for the rest ($6,194 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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