Loan Comparison: 3.45% vs 6.5%
19306 58th, Aurora, CO 80019 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.45%
Remaining Balance
$341,180
Equity Gap
$108,145
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$108,145
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.45% + gap loan
$2,181/moAssumed loan: $1,523/mo
Gap financing: $659/mo
$521less per month with the assumable
Your Savings on This Property
19306 58th, Aurora · 3.45% FHA vs 6.5% conventional
$521
per month
$6,252
per year
$187,564
over 30 years
$186,889
interest saved
How gap financing works: The equity gap ($108,145) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($85,645 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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