Loan Comparison: 6.27% vs 6.5%
3550 Harlan Street, Denver, CO 80235 · 2bd/2ba · $345,000
List Price
$345,000
Assumable Rate
6.27%
Remaining Balance
$261,012
Equity Gap
$83,987
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$83,987
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (FHA)
Blended Rate: 6.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 6.27% + gap loan
$2,077/moAssumed loan: $1,610/mo
Gap financing: $467/mo
Your Savings on This Property
3550 Harlan Street, Denver · 6.27% 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 ($83,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($66,737 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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