Loan Comparison: 2.77% vs 6.5%
4500 Hoyt, Wheat Ridge, CO 80033 · 7bd/3ba · $875,000
List Price
$875,000
Assumable Rate
2.77%
Remaining Balance
$613,315
Equity Gap
$261,684
Loan Type
FHAAdjust Your Scenario
$43,750
$43,750$261,684
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.77% + gap loan
$4,186/moAssumed loan: $2,510/mo
Gap financing: $1,676/mo
$1,068less per month with the assumable
Your Savings on This Property
4500 Hoyt, Wheat Ridge · 2.77% FHA vs 6.5% conventional
$1,068
per month
$12,816
per year
$384,493
over 30 years
$384,492
interest saved
How gap financing works: The equity gap ($261,684) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($217,934 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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