Loan Comparison: 6.83% vs 6.5%
12323 Connecticut Drive, Denver, CO 80228 · 4bd/3ba · $635,000
List Price
$635,000
Assumable Rate
6.83%
Remaining Balance
$594,187
Equity Gap
$40,813
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$40,813
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.83% (FHA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 6.83% + gap loan
$3,949/moAssumed loan: $3,886/mo
Gap financing: $63/mo
Your Savings on This Property
12323 Connecticut Drive, Denver · 6.83% 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 ($40,813) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($9,063 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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