Loan Comparison: 4.47% vs 6.5%
12835 Louisiana, Aurora, CO 80012 · 2bd/2ba · $280,000
List Price
$280,000
Assumable Rate
4.47%
Remaining Balance
$199,375
Equity Gap
$80,624
Loan Type
FHAAdjust Your Scenario
$14,000
$14,000$80,624
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 4.47% + gap loan
$1,519/moAssumed loan: $1,007/mo
Gap financing: $512/mo
$162less per month with the assumable
Your Savings on This Property
12835 Louisiana, Aurora · 4.47% FHA vs 6.5% conventional
$162
per month
$1,948
per year
$58,452
over 30 years
$58,451
interest saved
How gap financing works: The equity gap ($80,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,000, 5% of purchase price) and a second mortgage for the rest ($66,624 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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