Loan Comparison: 2.9% vs 6.5%
1082 Nucla, Aurora, CO 80017 · 3bd/3ba · $500,000
List Price
$500,000
Assumable Rate
2.9%
Remaining Balance
$391,238
Equity Gap
$108,762
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$108,762
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 2.9% + gap loan
$2,273/moAssumed loan: $1,628/mo
Gap financing: $644/mo
$730less per month with the assumable
Your Savings on This Property
1082 Nucla, Aurora · 2.9% FHA vs 6.5% conventional
$730
per month
$8,758
per year
$262,734
over 30 years
$262,734
interest saved
How gap financing works: The equity gap ($108,762) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($83,762 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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