Loan Comparison: 2.83% vs 6.5%
12543 Pacific, Aurora, CO 80014 · 2bd/2ba · $275,000
List Price
$275,000
Assumable Rate
2.83%
Remaining Balance
$226,425
Equity Gap
$48,574
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$48,574
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 2.83% + gap loan
$1,202/moAssumed loan: $934/mo
Gap financing: $268/mo
$450less per month with the assumable
Your Savings on This Property
12543 Pacific, Aurora · 2.83% FHA vs 6.5% conventional
$450
per month
$5,394
per year
$161,830
over 30 years
$161,829
interest saved
How gap financing works: The equity gap ($48,574) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($34,824 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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