Loan Comparison: 6.81% vs 6.5%
4480 Jebel Street, Denver, CO 80249 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
6.81%
Remaining Balance
$139,274
Equity Gap
$320,725
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$320,725
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.81% (FHA)
Blended Rate: 7.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 6.81% + gap loan
$2,991/moAssumed loan: $909/mo
Gap financing: $2,082/mo
Your Savings on This Property
4480 Jebel Street, Denver · 6.81% 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 ($320,725) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($297,725 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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