Loan Comparison: 3.16% vs 6.5%
18325 Amherst, Aurora, CO 80013 · 5bd/4ba · $570,000
List Price
$570,000
Assumable Rate
3.16%
Remaining Balance
$440,232
Equity Gap
$175,660
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$175,660
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 3.16% + gap loan
$3,026/moAssumed loan: $1,894/mo
Gap financing: $1,132/mo
$397less per month with the assumable
Your Savings on This Property
18325 Amherst, Aurora · 3.16% FHA vs 6.5% conventional
$397
per month
$4,763
per year
$142,875
over 30 years
$188,767
interest saved
How gap financing works: The equity gap ($175,660) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($147,160 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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