Loan Comparison: 6.78% vs 6.5%
11713 118th Place, Henderson, CO 80640 · 3bd/2ba · $618,000
List Price
$618,000
Assumable Rate
6.78%
Remaining Balance
$497,980
Equity Gap
$120,019
Loan Type
FHAAdjust Your Scenario
$30,900
$30,900$120,019
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.78% (FHA)
Blended Rate: 6.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,711/moAssumable @ 6.78% + gap loan
$3,863/moAssumed loan: $3,240/mo
Gap financing: $623/mo
Your Savings on This Property
11713 118th Place, Henderson · 6.78% 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 ($120,019) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,900, 5% of purchase price) and a second mortgage for the rest ($89,119 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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