Loan Comparison: 3.06% vs 6.5%
11972 Louisiana, Aurora, CO 80012 · 5bd/3ba · $560,000
List Price
$560,000
Assumable Rate
3.06%
Remaining Balance
$495,866
Equity Gap
$98,152
Loan Type
FHAAdjust Your Scenario
$28,000
$28,000$98,152
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 3.06% + gap loan
$2,646/moAssumed loan: $2,107/mo
Gap financing: $539/mo
$717less per month with the assumable
Your Savings on This Property
11972 Louisiana, Aurora · 3.06% FHA vs 6.5% conventional
$717
per month
$8,598
per year
$257,948
over 30 years
$291,966
interest saved
How gap financing works: The equity gap ($98,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($70,152 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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