Loan Comparison: 3.69% vs 6.5%
23584 5th, Aurora, CO 80018 · 3bd/3ba · $365,999
List Price
$365,999
Assumable Rate
3.69%
Remaining Balance
$284,900
Equity Gap
$77,341
Loan Type
FHAAdjust Your Scenario
$18,300
$18,300$77,341
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,198/moAssumable @ 3.69% + gap loan
$1,764/moAssumed loan: $1,310/mo
Gap financing: $454/mo
$434less per month with the assumable
Your Savings on This Property
23584 5th, Aurora · 3.69% FHA vs 6.5% conventional
$434
per month
$5,208
per year
$156,235
over 30 years
$152,477
interest saved
How gap financing works: The equity gap ($77,341) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,300, 5% of purchase price) and a second mortgage for the rest ($59,041 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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