Loan Comparison: 4.56% vs 6.5%
1368 Downing Street, Denver, CO 80218 · 4bd/5ba · $225,000
List Price
$225,000
Assumable Rate
4.56%
Remaining Balance
$76,524
Equity Gap
$148,475
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$148,475
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.56% (FHA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 4.56% + gap loan
$1,350/moAssumed loan: $390/mo
Gap financing: $959/mo
$1less per month with the assumable
Your Savings on This Property
1368 Downing Street, Denver · 4.56% FHA vs 6.5% conventional
$1
per month
$13
per year
$389
over 30 years
$388
interest saved
How gap financing works: The equity gap ($148,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($137,225 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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