Loan Comparison: 7.37% vs 6.5%
891 14th Street, Denver, CO 80202 · 3bd/1ba · $849,000
List Price
$849,000
Assumable Rate
7.37%
Remaining Balance
$290,752
Equity Gap
$558,248
Loan Type
FHAAdjust Your Scenario
$42,450
$42,450$558,248
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.37% (FHA)
Blended Rate: 7.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,098/moAssumable @ 7.37% + gap loan
$5,614/moAssumed loan: $2,007/mo
Gap financing: $3,607/mo
Your Savings on This Property
891 14th Street, Denver · 7.37% 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 ($558,248) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,450, 5% of purchase price) and a second mortgage for the rest ($515,798 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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