Loan Comparison: 7.04% vs 6.5%
5585 Quivas Street, Denver, CO 80221 · 2bd/1ba · $475,000
List Price
$475,000
Assumable Rate
7.04%
Remaining Balance
$6,511
Equity Gap
$468,488
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$468,488
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.04% (FHA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 7.04% + gap loan
$3,153/moAssumed loan: $43/mo
Gap financing: $3,110/mo
Your Savings on This Property
5585 Quivas Street, Denver · 7.04% 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 ($468,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($444,738 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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