Loan Comparison: 6.87% vs 6.5%
7175 Penrose Court, Centennial, CO 80122 · 2bd/2ba · $625,000
List Price
$625,000
Assumable Rate
6.87%
Remaining Balance
$569,921
Equity Gap
$55,078
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$55,078
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.87% (FHA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 6.87% + gap loan
$3,909/moAssumed loan: $3,742/mo
Gap financing: $167/mo
Your Savings on This Property
7175 Penrose Court, Centennial · 6.87% 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 ($55,078) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($23,828 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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