Loan Comparison: 6.82% vs 6.5%
2444 Corona Street, Denver, CO 80210 · 3bd/2ba · $424,900
List Price
$424,900
Assumable Rate
6.82%
Remaining Balance
$378,415
Equity Gap
$46,485
Loan Type
FHAAdjust Your Scenario
$21,245
$21,245$46,485
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.82% (FHA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 6.82% + gap loan
$2,649/moAssumed loan: $2,472/mo
Gap financing: $176/mo
Your Savings on This Property
2444 Corona Street, Denver · 6.82% 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 ($46,485) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($25,240 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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