Loan Comparison: 6.36% vs 6.5%
2147 Bellaire Street, Denver, CO 80222 · 3bd/3ba · $675,000
List Price
$675,000
Assumable Rate
6.36%
Remaining Balance
$554,400
Equity Gap
$120,599
Loan Type
FHAAdjust Your Scenario
$33,750
$33,750$120,599
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.36% (FHA)
Blended Rate: 6.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 6.36% + gap loan
$4,061/moAssumed loan: $3,453/mo
Gap financing: $607/mo
Your Savings on This Property
2147 Bellaire Street, Denver · 6.36% 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 ($120,599) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($86,849 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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