Loan Comparison: 4.01% vs 6.5%
850 Peoria, Aurora, CO 80011 · 4bd/2ba · $430,000
List Price
$430,000
Assumable Rate
4.01%
Remaining Balance
$220,747
Equity Gap
$220,282
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$220,282
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.01% (FHA)
Blended Rate: 6.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 4.01% + gap loan
$2,584/moAssumed loan: $1,055/mo
Gap financing: $1,528/mo
Your Savings on This Property
850 Peoria, Aurora · 4.01% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$10,447
interest saved
How gap financing works: The equity gap ($220,282) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($198,782 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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