Loan Comparison: 2.81% vs 6.5%
4836 Wenatchee, Aurora, CO 80015 · 6bd/5ba · $800,000
List Price
$800,000
Assumable Rate
2.81%
Remaining Balance
$451,836
Equity Gap
$348,164
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$348,164
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 5.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.81% + gap loan
$4,228/moAssumed loan: $1,859/mo
Gap financing: $2,370/mo
$575less per month with the assumable
Your Savings on This Property
4836 Wenatchee, Aurora · 2.81% FHA vs 6.5% conventional
$575
per month
$6,903
per year
$207,083
over 30 years
$207,083
interest saved
How gap financing works: The equity gap ($348,164) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($308,164 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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