Loan Comparison: 5.22% vs 6.5%
6338 Julian Street, Denver, CO 80221 · 0bd/0ba · $1,250,000
List Price
$1,250,000
Assumable Rate
5.22%
Remaining Balance
$810,223
Equity Gap
$439,776
Loan Type
FHAAdjust Your Scenario
$62,500
$62,500$439,776
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 5.22% + gap loan
$7,097/moAssumed loan: $4,459/mo
Gap financing: $2,638/mo
$409less per month with the assumable
Your Savings on This Property
6338 Julian Street, Denver · 5.22% FHA vs 6.5% conventional
$409
per month
$4,906
per year
$147,168
over 30 years
$147,167
interest saved
How gap financing works: The equity gap ($439,776) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($377,276 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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