Loan Comparison: 5.12% vs 6.5%
4473 Andes Street, Denver, CO 80249 · 2bd/2ba · $389,000
List Price
$389,000
Assumable Rate
5.12%
Remaining Balance
$63,875
Equity Gap
$325,125
Loan Type
FHAAdjust Your Scenario
$19,450
$19,450$325,125
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.12% (FHA)
Blended Rate: 7.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 5.12% + gap loan
$2,485/moAssumed loan: $348/mo
Gap financing: $2,137/mo
Your Savings on This Property
4473 Andes Street, Denver · 5.12% 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 ($325,125) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($305,675 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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