Loan Comparison: 2.68% vs 6.5%
1685 Kenton, Aurora, CO 80012 · 6bd/4ba · $515,000
List Price
$515,000
Assumable Rate
2.68%
Remaining Balance
$367,856
Equity Gap
$147,144
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$147,144
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.68% + gap loan
$2,422/moAssumed loan: $1,488/mo
Gap financing: $933/mo
$671less per month with the assumable
Your Savings on This Property
1685 Kenton, Aurora · 2.68% FHA vs 6.5% conventional
$671
per month
$8,050
per year
$241,503
over 30 years
$241,503
interest saved
How gap financing works: The equity gap ($147,144) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($121,394 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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