Loan Comparison: 5.22% vs 6.5%
3075 Grape, Denver, CO 80222 · 3bd/1ba · $499,000
List Price
$499,000
Assumable Rate
5.22%
Remaining Balance
$469,725
Equity Gap
$29,275
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$29,275
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 5.22% + gap loan
$2,618/moAssumed loan: $2,585/mo
Gap financing: $33/mo
$378less per month with the assumable
Your Savings on This Property
3075 Grape, Denver · 5.22% FHA vs 6.5% conventional
$378
per month
$4,535
per year
$136,060
over 30 years
$136,060
interest saved
How gap financing works: The equity gap ($29,275) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($4,325 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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