Loan Comparison: 5.52% vs 6.5%
12080 Maple, Aurora, CO 80012 · 2bd/2ba · $399,500
List Price
$399,500
Assumable Rate
5.52%
Remaining Balance
$354,313
Equity Gap
$45,186
Loan Type
FHAAdjust Your Scenario
$19,975
$19,975$45,186
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,399/moAssumable @ 5.52% + gap loan
$2,210/moAssumed loan: $2,016/mo
Gap financing: $194/mo
$189less per month with the assumable
Your Savings on This Property
12080 Maple, Aurora · 5.52% FHA vs 6.5% conventional
$189
per month
$2,266
per year
$67,970
over 30 years
$67,969
interest saved
How gap financing works: The equity gap ($45,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,975, 5% of purchase price) and a second mortgage for the rest ($25,211 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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