Loan Comparison: 6.49% vs 6.5%
2691 Hooker Street, Denver, CO 80219 · 4bd/4ba · $452,500
List Price
$452,500
Assumable Rate
6.49%
Remaining Balance
$374,645
Equity Gap
$77,854
Loan Type
FHAAdjust Your Scenario
$22,625
$22,625$77,854
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.49% (FHA)
Blended Rate: 6.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,717/moAssumable @ 6.49% + gap loan
$2,752/moAssumed loan: $2,366/mo
Gap financing: $386/mo
Your Savings on This Property
2691 Hooker Street, Denver · 6.49% 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 ($77,854) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,625, 5% of purchase price) and a second mortgage for the rest ($55,229 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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