Loan Comparison: 4.08% vs 6.5%
6109 Kirk, Aurora, CO 80016 · 4bd/4ba · $670,000
List Price
$670,000
Assumable Rate
4.08%
Remaining Balance
$395,604
Equity Gap
$314,794
Loan Type
FHAAdjust Your Scenario
$33,500
$33,500$314,794
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.08% (FHA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 4.08% + gap loan
$4,070/moAssumed loan: $1,907/mo
Gap financing: $2,163/mo
Your Savings on This Property
6109 Kirk, Aurora · 4.08% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$23,565
interest saved
How gap financing works: The equity gap ($314,794) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($281,294 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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