Loan Comparison: 3.08% vs 6.5%
17211 Ford, Aurora, CO 80017 · 2bd/1ba · $250,000
List Price
$250,000
Assumable Rate
3.08%
Remaining Balance
$198,002
Equity Gap
$51,997
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$51,997
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.08% + gap loan
$1,147/moAssumed loan: $843/mo
Gap financing: $304/mo
$354less per month with the assumable
Your Savings on This Property
17211 Ford, Aurora · 3.08% FHA vs 6.5% conventional
$354
per month
$4,249
per year
$127,480
over 30 years
$127,479
interest saved
How gap financing works: The equity gap ($51,997) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($39,497 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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