Loan Comparison: 2.89% vs 6.5%
4397 Netherland, Aurora, CO 80015 · 3bd/3ba · $485,000
List Price
$485,000
Assumable Rate
2.89%
Remaining Balance
$397,082
Equity Gap
$103,190
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$103,190
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.89% + gap loan
$2,258/moAssumed loan: $1,651/mo
Gap financing: $607/mo
$655less per month with the assumable
Your Savings on This Property
4397 Netherland, Aurora · 2.89% FHA vs 6.5% conventional
$655
per month
$7,855
per year
$235,665
over 30 years
$250,937
interest saved
How gap financing works: The equity gap ($103,190) 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 ($78,940 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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