Loan Comparison: 5.3% vs 6.5%
4488 Lake Circle, Centennial, CO 80121 · 3bd/3ba · $699,000
List Price
$699,000
Assumable Rate
5.3%
Remaining Balance
$547,350
Equity Gap
$151,650
Loan Type
FHAAdjust Your Scenario
$34,950
$34,950$151,650
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 5.3% + gap loan
$3,855/moAssumed loan: $3,039/mo
Gap financing: $816/mo
$342less per month with the assumable
Your Savings on This Property
4488 Lake Circle, Centennial · 5.3% FHA vs 6.5% conventional
$342
per month
$4,102
per year
$123,050
over 30 years
$123,050
interest saved
How gap financing works: The equity gap ($151,650) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($116,700 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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