Loan Comparison: 3.47% vs 6.5%
5535 Quemoy, Aurora, CO 80015 · 3bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3.47%
Remaining Balance
$215,678
Equity Gap
$260,156
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$260,156
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.47% + gap loan
$2,800/moAssumed loan: $965/mo
Gap financing: $1,835/mo
Your Savings on This Property
5535 Quemoy, Aurora · 3.47% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($260,156) 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 ($238,656 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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