Loan Comparison: 2.83% vs 6.5%
12615 Pacific, Aurora, CO 80014 · 2bd/2ba · $299,999
List Price
$299,999
Assumable Rate
2.83%
Remaining Balance
$236,559
Equity Gap
$66,205
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$66,205
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 3.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.83% + gap loan
$1,370/moAssumed loan: $976/mo
Gap financing: $394/mo
$432less per month with the assumable
Your Savings on This Property
12615 Pacific, Aurora · 2.83% FHA vs 6.5% conventional
$432
per month
$5,183
per year
$155,477
over 30 years
$158,242
interest saved
How gap financing works: The equity gap ($66,205) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($51,205 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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