Loan Comparison: 6.32% vs 6.5%
2984 Delaware Street, Englewood, CO 80110 · 1bd/1ba · $499,000
List Price
$499,000
Assumable Rate
6.32%
Remaining Balance
$456,423
Equity Gap
$42,576
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$42,576
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (FHA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 6.32% + gap loan
$2,954/moAssumed loan: $2,831/mo
Gap financing: $123/mo
$42less per month with the assumable
Your Savings on This Property
2984 Delaware Street, Englewood · 6.32% FHA vs 6.5% conventional
$42
per month
$504
per year
$15,116
over 30 years
$15,115
interest saved
How gap financing works: The equity gap ($42,576) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($17,626 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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