Loan Comparison: 6.5% vs 6.5%
823 Van Gordon Street, Golden, CO 80401 · 4bd/2ba · $825,000
List Price
$825,000
Assumable Rate
6.5%
Remaining Balance
$692,619
Equity Gap
$132,381
Loan Type
FHAAdjust Your Scenario
$41,250
$41,250$132,381
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 6.5% + gap loan
$5,015/moAssumed loan: $4,378/mo
Gap financing: $637/mo
Your Savings on This Property
823 Van Gordon Street, Golden · 6.5% 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 ($132,381) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($91,131 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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