Loan Comparison: 2.6% vs 6.5%
9004 Caley Way, Greenwood Village, CO 80111 · 5bd/5ba · $599,000
List Price
$599,000
Assumable Rate
2.6%
Remaining Balance
$372,624
Equity Gap
$226,376
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$226,376
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (FHA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 2.6% + gap loan
$2,865/moAssumed loan: $1,492/mo
Gap financing: $1,373/mo
$732less per month with the assumable
Your Savings on This Property
9004 Caley Way, Greenwood Village · 2.6% FHA vs 6.5% conventional
$732
per month
$8,779
per year
$263,370
over 30 years
$263,370
interest saved
How gap financing works: The equity gap ($226,376) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($196,426 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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