Loan Comparison: 4.14% vs 6.5%
705 Alton, Denver, CO 80247 · 1bd/1ba · $172,000
List Price
$172,000
Assumable Rate
4.14%
Remaining Balance
$114,740
Equity Gap
$57,259
Loan Type
FHAAdjust Your Scenario
$8,600
$8,600$57,259
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,033/moAssumable @ 4.14% + gap loan
$931/moAssumed loan: $557/mo
Gap financing: $374/mo
$102less per month with the assumable
Your Savings on This Property
705 Alton, Denver · 4.14% FHA vs 6.5% conventional
$102
per month
$1,219
per year
$36,564
over 30 years
$36,563
interest saved
How gap financing works: The equity gap ($57,259) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,600, 5% of purchase price) and a second mortgage for the rest ($48,659 at 8.5%). 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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