Loan Comparison: 5.51% vs 6.5%
1855 98th Avenue, Denver, CO 80229 · 3bd/2ba · $480,000
List Price
$480,000
Assumable Rate
5.51%
Remaining Balance
$421,219
Equity Gap
$58,780
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$58,780
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (FHA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 5.51% + gap loan
$2,637/moAssumed loan: $2,394/mo
Gap financing: $243/mo
$245less per month with the assumable
Your Savings on This Property
1855 98th Avenue, Denver · 5.51% FHA vs 6.5% conventional
$245
per month
$2,937
per year
$88,115
over 30 years
$88,114
interest saved
How gap financing works: The equity gap ($58,780) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($34,780 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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