Loan Comparison: 4.55% vs 6.5%
535 Kenton, Aurora, CO 80010 · 5bd/3ba · $520,000
List Price
$520,000
Assumable Rate
4.55%
Remaining Balance
$278,090
Equity Gap
$241,909
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$241,909
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.55% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 4.55% + gap loan
$3,077/moAssumed loan: $1,417/mo
Gap financing: $1,660/mo
$45less per month with the assumable
Your Savings on This Property
535 Kenton, Aurora · 4.55% FHA vs 6.5% conventional
$45
per month
$539
per year
$16,181
over 30 years
$16,180
interest saved
How gap financing works: The equity gap ($241,909) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($215,909 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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