Loan Comparison: 5.87% vs 6.5%
15852 48th Place, Denver, CO 80239 · 4bd/4ba · $408,000
List Price
$408,000
Assumable Rate
5.87%
Remaining Balance
$8,959
Equity Gap
$399,040
Loan Type
FHAAdjust Your Scenario
$20,400
$20,400$399,040
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.87% (FHA)
Blended Rate: 7.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,450/moAssumable @ 5.87% + gap loan
$2,700/moAssumed loan: $53/mo
Gap financing: $2,648/mo
Your Savings on This Property
15852 48th Place, Denver · 5.87% 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 ($399,040) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,400, 5% of purchase price) and a second mortgage for the rest ($378,640 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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