Loan Comparison: 7.84% vs 6.5%
15611 Candle Creek Drive, Monument, CO 80132 · 4bd/4ba · $529,900
List Price
$529,900
Assumable Rate
7.84%
Remaining Balance
$41,420
Equity Gap
$488,480
Loan Type
FHAAdjust Your Scenario
$26,495
$26,495$488,480
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.84% (FHA)
Blended Rate: 7.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 7.84% + gap loan
$3,530/moAssumed loan: $299/mo
Gap financing: $3,230/mo
Your Savings on This Property
15611 Candle Creek Drive, Monument · 7.84% 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 ($488,480) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,495, 5% of purchase price) and a second mortgage for the rest ($461,985 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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