Loan Comparison: 2.98% vs 6.5%
4346 Netherland, Aurora, CO 80015 · 3bd/3ba · $455,000
List Price
$455,000
Assumable Rate
2.98%
Remaining Balance
$384,727
Equity Gap
$67,738
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$67,738
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.98% + gap loan
$1,964/moAssumed loan: $1,618/mo
Gap financing: $346/mo
$768less per month with the assumable
Your Savings on This Property
4346 Netherland, Aurora · 2.98% FHA vs 6.5% conventional
$768
per month
$9,220
per year
$276,594
over 30 years
$274,059
interest saved
How gap financing works: The equity gap ($67,738) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($44,988 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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