Loan Comparison: 5.84% vs 6.5%
25380 Aberdeen, Aurora, CO 80016 · 6bd/4ba · $750,000
List Price
$750,000
Assumable Rate
5.84%
Remaining Balance
$646,320
Equity Gap
$104,498
Loan Type
FHAAdjust Your Scenario
$37,500
$37,500$104,498
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 5.84% + gap loan
$4,324/moAssumed loan: $3,809/mo
Gap financing: $515/mo
$180less per month with the assumable
Your Savings on This Property
25380 Aberdeen, Aurora · 5.84% FHA vs 6.5% conventional
$180
per month
$2,155
per year
$64,637
over 30 years
$65,455
interest saved
How gap financing works: The equity gap ($104,498) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($66,998 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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