Loan Comparison: 5% vs 6.5%
8250 Explorador Calle, Denver, CO 80229 · 6bd/4ba · $569,000
List Price
$569,000
Assumable Rate
5%
Remaining Balance
$109,426
Equity Gap
$459,574
Loan Type
FHAAdjust Your Scenario
$28,450
$28,450$459,574
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 6.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 5% + gap loan
$3,602/moAssumed loan: $587/mo
Gap financing: $3,014/mo
Your Savings on This Property
8250 Explorador Calle, Denver · 5% 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 ($459,574) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,450, 5% of purchase price) and a second mortgage for the rest ($431,124 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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