Loan Comparison: 5.41% vs 6.5%
452 78th Drive, Denver, CO 80229 · 3bd/1ba · $505,000
List Price
$505,000
Assumable Rate
5.41%
Remaining Balance
$422,766
Equity Gap
$82,234
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$82,234
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 5.41% + gap loan
$2,775/moAssumed loan: $2,377/mo
Gap financing: $398/mo
$257less per month with the assumable
Your Savings on This Property
452 78th Drive, Denver · 5.41% FHA vs 6.5% conventional
$257
per month
$3,088
per year
$92,630
over 30 years
$92,630
interest saved
How gap financing works: The equity gap ($82,234) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($56,984 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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