Loan Comparison: 6.22% vs 6.5%
17975 54th Avenue, Denver, CO 80249 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
6.22%
Remaining Balance
$405,828
Equity Gap
$44,171
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$44,171
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.22% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.22% + gap loan
$2,642/moAssumed loan: $2,491/mo
Gap financing: $152/mo
$60less per month with the assumable
Your Savings on This Property
17975 54th Avenue, Denver · 6.22% FHA vs 6.5% conventional
$60
per month
$717
per year
$21,501
over 30 years
$21,500
interest saved
How gap financing works: The equity gap ($44,171) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($21,671 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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