Loan Comparison: 3.23% vs 6.5%
4524 Picadilly, Aurora, CO 80019 · 3bd/3ba · $575,000
List Price
$575,000
Assumable Rate
3.23%
Remaining Balance
$423,770
Equity Gap
$199,751
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$199,751
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.23% + gap loan
$3,154/moAssumed loan: $1,840/mo
Gap financing: $1,315/mo
$298less per month with the assumable
Your Savings on This Property
4524 Picadilly, Aurora · 3.23% FHA vs 6.5% conventional
$298
per month
$3,578
per year
$107,351
over 30 years
$155,872
interest saved
How gap financing works: The equity gap ($199,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($171,001 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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