Loan Comparison: 5.25% vs 6.5%
465 Eliot Street, Denver, CO 80219 · 3bd/2ba · $519,900
List Price
$519,900
Assumable Rate
5.25%
Remaining Balance
$86,779
Equity Gap
$433,120
Loan Type
FHAAdjust Your Scenario
$25,995
$25,995$433,120
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 7.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 5.25% + gap loan
$3,326/moAssumed loan: $479/mo
Gap financing: $2,847/mo
Your Savings on This Property
465 Eliot Street, Denver · 5.25% 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 ($433,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($407,125 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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