Loan Comparison: 6.87% vs 6.5%
1345 Quebec Street, Denver, CO 80220 · 2bd/1ba · $674,999
List Price
$674,999
Assumable Rate
6.87%
Remaining Balance
$541,839
Equity Gap
$133,160
Loan Type
FHAAdjust Your Scenario
$33,750
$33,750$133,160
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.87% (FHA)
Blended Rate: 6.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,053/moAssumable @ 6.87% + gap loan
$4,253/moAssumed loan: $3,558/mo
Gap financing: $695/mo
Your Savings on This Property
1345 Quebec Street, Denver · 6.87% 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 ($133,160) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,750, 5% of purchase price) and a second mortgage for the rest ($99,410 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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