Loan Comparison: 6.34% vs 6.5%
3004 Xeric Court, Denver, CO 80231 · 2bd/2ba · $620,000
List Price
$620,000
Assumable Rate
6.34%
Remaining Balance
$506,549
Equity Gap
$113,451
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$113,451
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.34% (FHA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 6.34% + gap loan
$3,725/moAssumed loan: $3,149/mo
Gap financing: $577/mo
Your Savings on This Property
3004 Xeric Court, Denver · 6.34% 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 ($113,451) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($82,451 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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