Loan Comparison: 4.04% vs 6.5%
9618 113th Avenue, Henderson, CO 80603 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
4.04%
Remaining Balance
$244,618
Equity Gap
$305,382
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$305,382
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 4.04% + gap loan
$3,116/moAssumed loan: $1,173/mo
Gap financing: $1,943/mo
$186less per month with the assumable
Your Savings on This Property
9618 113th Avenue, Henderson · 4.04% FHA vs 6.5% conventional
$186
per month
$2,233
per year
$66,986
over 30 years
$66,986
interest saved
How gap financing works: The equity gap ($305,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($277,882 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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