Loan Comparison: 3.75% vs 6.5%
11250 Florence Street, Henderson, CO 80640 · 3bd/3ba · $369,000
List Price
$369,000
Assumable Rate
3.75%
Remaining Balance
$276,717
Equity Gap
$92,283
Loan Type
FHAAdjust Your Scenario
$18,450
$18,450$92,283
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,216/moAssumable @ 3.75% + gap loan
$1,798/moAssumed loan: $1,282/mo
Gap financing: $516/mo
$418less per month with the assumable
Your Savings on This Property
11250 Florence Street, Henderson · 3.75% FHA vs 6.5% conventional
$418
per month
$5,015
per year
$150,460
over 30 years
$150,460
interest saved
How gap financing works: The equity gap ($92,283) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,450, 5% of purchase price) and a second mortgage for the rest ($73,833 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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