Loan Comparison: 6.42% vs 6.5%
3480 Valentia Street, Denver, CO 80238 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
6.42%
Remaining Balance
$71,463
Equity Gap
$503,537
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$503,537
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.42% (FHA)
Blended Rate: 7.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 6.42% + gap loan
$3,768/moAssumed loan: $448/mo
Gap financing: $3,320/mo
Your Savings on This Property
3480 Valentia Street, Denver · 6.42% 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 ($503,537) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($474,787 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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