Loan Comparison: 6.05% vs 6.5%
3990 Delaware Street, Englewood, CO 80110 · 1bd/1ba · $335,000
List Price
$335,000
Assumable Rate
6.05%
Remaining Balance
$68,612
Equity Gap
$266,387
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$266,387
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.05% (FHA)
Blended Rate: 7.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 6.05% + gap loan
$2,159/moAssumed loan: $414/mo
Gap financing: $1,745/mo
Your Savings on This Property
3990 Delaware Street, Englewood · 6.05% 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 ($266,387) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($249,637 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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