Loan Comparison: 2.96% vs 6.5%
2623 Halifax, Aurora, CO 80013 · 3bd/2ba · $485,000
List Price
$485,000
Assumable Rate
2.96%
Remaining Balance
$358,738
Equity Gap
$126,261
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$126,261
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.96% + gap loan
$2,289/moAssumed loan: $1,505/mo
Gap financing: $784/mo
$623less per month with the assumable
Your Savings on This Property
2623 Halifax, Aurora · 2.96% FHA vs 6.5% conventional
$623
per month
$7,478
per year
$224,334
over 30 years
$224,333
interest saved
How gap financing works: The equity gap ($126,261) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($102,011 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2623 Halifax.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.