Loan Comparison: 3.06% vs 6.5%
21332 60th, Aurora, CO 80019 · 3bd/3ba · $439,000
List Price
$439,000
Assumable Rate
3.06%
Remaining Balance
$361,822
Equity Gap
$77,177
Loan Type
FHAAdjust Your Scenario
$21,950
$21,950$77,177
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 3.06% + gap loan
$1,962/moAssumed loan: $1,537/mo
Gap financing: $425/mo
$674less per month with the assumable
Your Savings on This Property
21332 60th, Aurora · 3.06% FHA vs 6.5% conventional
$674
per month
$8,090
per year
$242,713
over 30 years
$242,712
interest saved
How gap financing works: The equity gap ($77,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($55,227 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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