Loan Comparison: 5.86% vs 6.5%
5995 Hampden E-15 Avenue, Denver, CO 80227 · 2bd/3ba · $139,500
List Price
$139,500
Assumable Rate
5.86%
Remaining Balance
$21,419
Equity Gap
$118,081
Loan Type
FHAAdjust Your Scenario
$6,975
$6,975$118,081
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.86% (FHA)
Blended Rate: 7.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$838/moAssumable @ 5.86% + gap loan
$903/moAssumed loan: $126/mo
Gap financing: $777/mo
Your Savings on This Property
5995 Hampden E-15 Avenue, Denver · 5.86% 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 ($118,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($6,975, 5% of purchase price) and a second mortgage for the rest ($111,106 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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