Loan Comparison: 4.01% vs 6.5%
850 Peoria, Aurora, CO 80011 · 4bd/2ba · $425,000
List Price
$425,000
Assumable Rate
4.01%
Remaining Balance
$209,198
Equity Gap
$215,282
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$215,282
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.01% (FHA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.01% + gap loan
$2,492/moAssumed loan: $1,000/mo
Gap financing: $1,492/mo
$60less per month with the assumable
Your Savings on This Property
850 Peoria, Aurora · 4.01% FHA vs 6.5% conventional
$60
per month
$721
per year
$21,631
over 30 years
$21,111
interest saved
How gap financing works: The equity gap ($215,282) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($194,032 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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