Loan Comparison: 3.93% vs 6.5%
920 Dawson, Aurora, CO 80012 · 1bd/1ba · $115,000
List Price
$115,000
Assumable Rate
3.93%
Remaining Balance
$61,428
Equity Gap
$717,354
Loan Type
FHAAdjust Your Scenario
$5,750
$5,750$717,354
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.93% (FHA)
Blended Rate: 8.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$691/moAssumable @ 3.93% + gap loan
$5,762/moAssumed loan: $291/mo
Gap financing: $5,472/mo
Your Savings on This Property
920 Dawson, Aurora · 3.93% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($717,354) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($5,750, 5% of purchase price) and a second mortgage for the rest ($711,604 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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