Loan Comparison: 3.62% vs 6.5%
10018 113th Avenue, Henderson, CO 80640 · 4bd/3ba · $552,500
List Price
$552,500
Assumable Rate
3.62%
Remaining Balance
$291,989
Equity Gap
$260,511
Loan Type
FHAAdjust Your Scenario
$27,625
$27,625$260,511
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,318/moAssumable @ 3.62% + gap loan
$2,959/moAssumed loan: $1,331/mo
Gap financing: $1,628/mo
$358less per month with the assumable
Your Savings on This Property
10018 113th Avenue, Henderson · 3.62% FHA vs 6.5% conventional
$358
per month
$4,301
per year
$129,023
over 30 years
$129,023
interest saved
How gap financing works: The equity gap ($260,511) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,625, 5% of purchase price) and a second mortgage for the rest ($232,886 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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