Loan Comparison: 3.31% vs 6.5%
6293 Kilmer, Golden, CO 80403 · 2bd/2ba · $510,000
List Price
$510,000
Assumable Rate
3.31%
Remaining Balance
$17,657
Equity Gap
$489,189
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$489,189
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 8.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.31% + gap loan
$3,643/moAssumed loan: $77/mo
Gap financing: $3,565/mo
Your Savings on This Property
6293 Kilmer, Golden · 3.31% 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 ($489,189) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($463,689 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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