Loan Comparison: 6.25% vs 6.5%
4305 Nevada Place, Denver, CO 80219 · 5bd/2ba · $329,900
List Price
$329,900
Assumable Rate
6.25%
Remaining Balance
$54,051
Equity Gap
$275,849
Loan Type
FHAAdjust Your Scenario
$16,495
$16,495$275,849
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.25% (FHA)
Blended Rate: 7.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,981/moAssumable @ 6.25% + gap loan
$2,146/moAssumed loan: $333/mo
Gap financing: $1,813/mo
Your Savings on This Property
4305 Nevada Place, Denver · 6.25% 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 ($275,849) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,495, 5% of purchase price) and a second mortgage for the rest ($259,354 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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