Loan Comparison: 4.2% vs 6.5%
4798 Picadilly, Aurora, CO 80015 · 4bd/4ba · $550,000
List Price
$550,000
Assumable Rate
4.2%
Remaining Balance
$342,166
Equity Gap
$206,994
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$206,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4.2% + gap loan
$3,053/moAssumed loan: $1,673/mo
Gap financing: $1,380/mo
$249less per month with the assumable
Your Savings on This Property
4798 Picadilly, Aurora · 4.2% FHA vs 6.5% conventional
$249
per month
$2,990
per year
$89,694
over 30 years
$88,854
interest saved
How gap financing works: The equity gap ($206,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($179,494 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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