Loan Comparison: 5.75% vs 6.5%
105 Maple Avenue, Denver, CO 80223 · 6bd/3ba · $345,000
List Price
$345,000
Assumable Rate
5.75%
Remaining Balance
$294,857
Equity Gap
$50,143
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$50,143
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.75% (FHA)
Blended Rate: 5.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 5.75% + gap loan
$1,951/moAssumed loan: $1,721/mo
Gap financing: $230/mo
$121less per month with the assumable
Your Savings on This Property
105 Maple Avenue, Denver · 5.75% FHA vs 6.5% conventional
$121
per month
$1,451
per year
$43,526
over 30 years
$43,526
interest saved
How gap financing works: The equity gap ($50,143) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($32,893 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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