Loan Comparison: 3.9% vs 6.5%
11150 Josephine Way, Northglenn, CO 80602 · 6bd/4ba · $390,000
List Price
$390,000
Assumable Rate
3.9%
Remaining Balance
$225,086
Equity Gap
$164,914
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$164,914
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.9% + gap loan
$2,078/moAssumed loan: $1,062/mo
Gap financing: $1,017/mo
$263less per month with the assumable
Your Savings on This Property
11150 Josephine Way, Northglenn · 3.9% FHA vs 6.5% conventional
$263
per month
$3,161
per year
$94,823
over 30 years
$94,823
interest saved
How gap financing works: The equity gap ($164,914) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($145,414 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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