Loan Comparison: 6.43% vs 6.5%
1750 Quince Street, Denver, CO 80220 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
6.43%
Remaining Balance
$133,606
Equity Gap
$241,393
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$241,393
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.43% (FHA)
Blended Rate: 7.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 6.43% + gap loan
$2,395/moAssumed loan: $838/mo
Gap financing: $1,557/mo
Your Savings on This Property
1750 Quince Street, Denver · 6.43% 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 ($241,393) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($222,643 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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