Loan Comparison: 6.32% vs 6.5%
6295 Humboldt Place, Centennial, CO 80121 · 2bd/2ba · $685,000
List Price
$685,000
Assumable Rate
6.32%
Remaining Balance
$571,258
Equity Gap
$113,742
Loan Type
FHAAdjust Your Scenario
$34,250
$34,250$113,742
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (FHA)
Blended Rate: 6.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 6.32% + gap loan
$4,099/moAssumed loan: $3,543/mo
Gap financing: $556/mo
$14less per month with the assumable
Your Savings on This Property
6295 Humboldt Place, Centennial · 6.32% FHA vs 6.5% conventional
$14
per month
$168
per year
$5,033
over 30 years
$5,033
interest saved
How gap financing works: The equity gap ($113,742) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($79,492 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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