Loan Comparison: 6.26% vs 6.5%
1525 Xenia Street, Denver, CO 80220 · 3bd/2ba · $250,000
List Price
$250,000
Assumable Rate
6.26%
Remaining Balance
$224,814
Equity Gap
$25,185
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$25,185
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.26% (FHA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 6.26% + gap loan
$1,474/moAssumed loan: $1,386/mo
Gap financing: $89/mo
$27less per month with the assumable
Your Savings on This Property
1525 Xenia Street, Denver · 6.26% FHA vs 6.5% conventional
$27
per month
$321
per year
$9,643
over 30 years
$9,642
interest saved
How gap financing works: The equity gap ($25,185) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($12,685 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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