Loan Comparison: 6% vs 6.5%
15540 Canyon Gulch Lane, Englewood, CO 80112 · 4bd/2ba · $286,000
List Price
$286,000
Assumable Rate
6%
Remaining Balance
$75,355
Equity Gap
$210,644
Loan Type
FHAAdjust Your Scenario
$14,300
$14,300$210,644
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 7.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,717/moAssumable @ 6% + gap loan
$1,825/moAssumed loan: $452/mo
Gap financing: $1,373/mo
Your Savings on This Property
15540 Canyon Gulch Lane, Englewood · 6% 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 ($210,644) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,300, 5% of purchase price) and a second mortgage for the rest ($196,344 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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