Loan Comparison: 6.69% vs 6.5%
1815 Cook Street, Denver, CO 80205 · 1bd/1ba · $575,000
List Price
$575,000
Assumable Rate
6.69%
Remaining Balance
$495,570
Equity Gap
$79,429
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$79,429
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.69% (FHA)
Blended Rate: 6.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 6.69% + gap loan
$3,549/moAssumed loan: $3,195/mo
Gap financing: $354/mo
Your Savings on This Property
1815 Cook Street, Denver · 6.69% 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 ($79,429) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($50,679 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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