Loan Comparison: 6.5% vs 6.5%
605 Alton Way, Denver, CO 80247 · 4bd/2ba · $244,500
List Price
$244,500
Assumable Rate
6.5%
Remaining Balance
$99,818
Equity Gap
$144,681
Loan Type
FHAAdjust Your Scenario
$12,225
$12,225$144,681
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 7.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,468/moAssumable @ 6.5% + gap loan
$1,557/moAssumed loan: $631/mo
Gap financing: $926/mo
Your Savings on This Property
605 Alton Way, Denver · 6.5% 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 ($144,681) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,225, 5% of purchase price) and a second mortgage for the rest ($132,456 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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