Loan Comparison: 5.23% vs 6.5%
4819 Halifax Way, Denver, CO 80249 · 1bd/1ba · $469,900
List Price
$469,900
Assumable Rate
5.23%
Remaining Balance
$437,796
Equity Gap
$32,104
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$32,104
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 5.23% + gap loan
$2,472/moAssumed loan: $2,412/mo
Gap financing: $60/mo
$349less per month with the assumable
Your Savings on This Property
4819 Halifax Way, Denver · 5.23% FHA vs 6.5% conventional
$349
per month
$4,191
per year
$125,742
over 30 years
$125,742
interest saved
How gap financing works: The equity gap ($32,104) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($8,609 at 7.5%). 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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