Loan Comparison: 4.45% vs 6.5%
4651 Washington Street, Englewood, CO 80113 · 5bd/4ba · $515,000
List Price
$515,000
Assumable Rate
4.45%
Remaining Balance
$342,855
Equity Gap
$172,145
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$172,145
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.45% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.45% + gap loan
$2,751/moAssumed loan: $1,727/mo
Gap financing: $1,024/mo
$342less per month with the assumable
Your Savings on This Property
4651 Washington Street, Englewood · 4.45% FHA vs 6.5% conventional
$342
per month
$4,101
per year
$123,031
over 30 years
$123,031
interest saved
How gap financing works: The equity gap ($172,145) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($146,395 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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