Loan Comparison: 3.23% vs 6.5%
2101 Victor, Aurora, CO 80014 · 2bd/2ba · $310,000
List Price
$310,000
Assumable Rate
3.23%
Remaining Balance
$241,595
Equity Gap
$68,405
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$68,405
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.23% + gap loan
$1,456/moAssumed loan: $1,049/mo
Gap financing: $407/mo
$406less per month with the assumable
Your Savings on This Property
2101 Victor, Aurora · 3.23% FHA vs 6.5% conventional
$406
per month
$4,870
per year
$146,110
over 30 years
$146,110
interest saved
How gap financing works: The equity gap ($68,405) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($52,905 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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