Loan Comparison: 6.81% vs 6.5%
11240 Jamaica Street, Henderson, CO 80640 · 5bd/4ba · $425,000
List Price
$425,000
Assumable Rate
6.81%
Remaining Balance
$67,827
Equity Gap
$357,172
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$357,172
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.81% (FHA)
Blended Rate: 7.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 6.81% + gap loan
$2,791/moAssumed loan: $443/mo
Gap financing: $2,349/mo
Your Savings on This Property
11240 Jamaica Street, Henderson · 6.81% 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 ($357,172) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($335,922 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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