Loan Comparison: 5.23% vs 6.5%
19196 55th Avenue, Denver, CO 80249 · 2bd/3ba · $409,999
List Price
$409,999
Assumable Rate
5.23%
Remaining Balance
$386,817
Equity Gap
$23,182
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$23,182
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 5.23% + gap loan
$2,150/moAssumed loan: $2,131/mo
Gap financing: $19/mo
$312less per month with the assumable
Your Savings on This Property
19196 55th Avenue, Denver · 5.23% FHA vs 6.5% conventional
$312
per month
$3,743
per year
$112,290
over 30 years
$112,290
interest saved
How gap financing works: The equity gap ($23,182) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($2,682 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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