Loan Comparison: 5.75% vs 6.5%
6646 Patsburg, Aurora, CO 80016 · 2bd/2ba · $525,000
List Price
$525,000
Assumable Rate
5.75%
Remaining Balance
$414,326
Equity Gap
$113,746
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$113,746
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.75% (FHA)
Blended Rate: 6.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 5.75% + gap loan
$3,091/moAssumed loan: $2,418/mo
Gap financing: $673/mo
$62less per month with the assumable
Your Savings on This Property
6646 Patsburg, Aurora · 5.75% FHA vs 6.5% conventional
$62
per month
$741
per year
$22,240
over 30 years
$25,312
interest saved
How gap financing works: The equity gap ($113,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($87,496 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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