Loan Comparison: 4.88% vs 6.5%
441 Acoma Street, Denver, CO 80204 · 2bd/2ba · $1,195,000
List Price
$1,195,000
Assumable Rate
4.88%
Remaining Balance
$256,882
Equity Gap
$938,118
Loan Type
FHAAdjust Your Scenario
$59,750
$59,750$938,118
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.88% (FHA)
Blended Rate: 6.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,176/moAssumable @ 4.88% + gap loan
$7,502/moAssumed loan: $1,360/mo
Gap financing: $6,142/mo
Your Savings on This Property
441 Acoma Street, Denver · 4.88% 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 ($938,118) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($59,750, 5% of purchase price) and a second mortgage for the rest ($878,368 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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