Loan Comparison: 6.63% vs 6.5%
5570 Nepal Street, Denver, CO 80249 · 2bd/3ba · $485,000
List Price
$485,000
Assumable Rate
6.63%
Remaining Balance
$457,316
Equity Gap
$27,683
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$27,683
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 6.63% + gap loan
$2,954/moAssumed loan: $2,930/mo
Gap financing: $24/mo
Your Savings on This Property
5570 Nepal Street, Denver · 6.63% 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 ($27,683) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($3,433 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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