Loan Comparison: 6.73% vs 6.5%
5021 County Road 32, Mead, CO 80504 · 5bd/3ba · $450,000
List Price
$450,000
Assumable Rate
6.73%
Remaining Balance
$415,898
Equity Gap
$34,101
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$34,101
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.73% (FHA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.73% + gap loan
$2,773/moAssumed loan: $2,692/mo
Gap financing: $81/mo
Your Savings on This Property
5021 County Road 32, Mead · 6.73% 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 ($34,101) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($11,601 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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