Loan Comparison: 6.5% vs 6.5%
3226 Girard Avenue, Englewood, CO 80110 · 3bd/3ba · $349,000
List Price
$349,000
Assumable Rate
6.5%
Remaining Balance
$13,455
Equity Gap
$335,544
Loan Type
FHAAdjust Your Scenario
$17,450
$17,450$335,544
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 7.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,096/moAssumable @ 6.5% + gap loan
$2,309/moAssumed loan: $85/mo
Gap financing: $2,224/mo
Your Savings on This Property
3226 Girard Avenue, Englewood · 6.5% 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 ($335,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,450, 5% of purchase price) and a second mortgage for the rest ($318,094 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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