Loan Comparison: 3.1% vs 6.5%
15137 Nassau, Aurora, CO 80014 · 4bd/4ba · $585,000
List Price
$585,000
Assumable Rate
3.1%
Remaining Balance
$465,729
Equity Gap
$119,270
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$119,270
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.1% + gap loan
$2,681/moAssumed loan: $1,989/mo
Gap financing: $692/mo
$832less per month with the assumable
Your Savings on This Property
15137 Nassau, Aurora · 3.1% FHA vs 6.5% conventional
$832
per month
$9,982
per year
$299,449
over 30 years
$299,448
interest saved
How gap financing works: The equity gap ($119,270) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($90,020 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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