Loan Comparison: 7.44% vs 6.5%
4832 Genoa Street, Centennial, CO 80015 · 4bd/3ba · $455,000
List Price
$455,000
Assumable Rate
7.44%
Remaining Balance
$428,561
Equity Gap
$26,439
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$26,439
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.44% (FHA)
Blended Rate: 7.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 7.44% + gap loan
$3,005/moAssumed loan: $2,979/mo
Gap financing: $26/mo
Your Savings on This Property
4832 Genoa Street, Centennial · 7.44% 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 ($26,439) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($3,689 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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