Loan Comparison: 6.78% vs 6.5%
4728 Helena Street, Denver, CO 80239 · 8bd/6ba · $470,000
List Price
$470,000
Assumable Rate
6.78%
Remaining Balance
$103,529
Equity Gap
$366,471
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$366,471
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.78% (FHA)
Blended Rate: 7.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 6.78% + gap loan
$3,072/moAssumed loan: $674/mo
Gap financing: $2,398/mo
Your Savings on This Property
4728 Helena Street, Denver · 6.78% 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 ($366,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($342,971 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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