Loan Comparison: 2.8% vs 6.5%
2124 Gray, Edgewater, CO 80214 · 2bd/2ba · $824,900
List Price
$824,900
Assumable Rate
2.8%
Remaining Balance
$160,613
Equity Gap
$802,021
Loan Type
FHAAdjust Your Scenario
$41,245
$41,245$802,021
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (FHA)
Blended Rate: 7.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,953/moAssumable @ 2.8% + gap loan
$6,510/moAssumed loan: $660/mo
Gap financing: $5,850/mo
Your Savings on This Property
2124 Gray, Edgewater · 2.8% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($802,021) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,245, 5% of purchase price) and a second mortgage for the rest ($760,776 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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