Loan Comparison: 6.62% vs 6.5%
645 Washington Circle, Englewood, CO 80113 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
6.62%
Remaining Balance
$106,405
Equity Gap
$443,595
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$443,595
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.62% (FHA)
Blended Rate: 7.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 6.62% + gap loan
$3,590/moAssumed loan: $681/mo
Gap financing: $2,909/mo
Your Savings on This Property
645 Washington Circle, Englewood · 6.62% 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 ($443,595) 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 ($416,095 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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