Loan Comparison: 6.63% vs 6.5%
5332 13th Street, Frederick, CO 80504 · 5bd/2ba · $415,000
List Price
$415,000
Assumable Rate
6.63%
Remaining Balance
$15,064
Equity Gap
$399,935
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$399,935
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 6.63% + gap loan
$2,748/moAssumed loan: $97/mo
Gap financing: $2,651/mo
Your Savings on This Property
5332 13th Street, Frederick · 6.63% 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 ($399,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($379,185 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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