Loan Comparison: 6.44% vs 6.5%
500 Denver Avenue, Fort Lupton, CO 80621 · 5bd/3ba · $398,000
List Price
$398,000
Assumable Rate
6.44%
Remaining Balance
$370,843
Equity Gap
$27,157
Loan Type
FHAAdjust Your Scenario
$19,900
$19,900$27,157
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.44% (FHA)
Blended Rate: 6.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 6.44% + gap loan
$2,380/moAssumed loan: $2,329/mo
Gap financing: $51/mo
$10less per month with the assumable
Your Savings on This Property
500 Denver Avenue, Fort Lupton · 6.44% FHA vs 6.5% conventional
$10
per month
$117
per year
$3,507
over 30 years
$3,507
interest saved
How gap financing works: The equity gap ($27,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($7,257 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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