Loan Comparison: 4.53% vs 6.5%
5351 Quitman Street, Denver, CO 80212 · 4bd/3ba · $425,000
List Price
$425,000
Assumable Rate
4.53%
Remaining Balance
$98,880
Equity Gap
$326,120
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$326,120
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 6.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.53% + gap loan
$2,634/moAssumed loan: $503/mo
Gap financing: $2,132/mo
Your Savings on This Property
5351 Quitman Street, Denver · 4.53% 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 ($326,120) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($304,870 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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