Loan Comparison: 4.14% vs 6.5%
24036 Kettle, Aurora, CO 80016 · 5bd/4ba · $800,000
List Price
$800,000
Assumable Rate
4.14%
Remaining Balance
$415,548
Equity Gap
$384,452
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$384,452
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 4.14% + gap loan
$4,666/moAssumed loan: $2,018/mo
Gap financing: $2,649/mo
$138less per month with the assumable
Your Savings on This Property
24036 Kettle, Aurora · 4.14% FHA vs 6.5% conventional
$138
per month
$1,651
per year
$49,537
over 30 years
$49,537
interest saved
How gap financing works: The equity gap ($384,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($344,452 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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