Loan Comparison: 4.23% vs 6.5%
801 Pennsylvania, Denver, CO 80203 · 1bd/1ba · $197,500
List Price
$197,500
Assumable Rate
4.23%
Remaining Balance
$72,819
Equity Gap
$124,681
Loan Type
FHAAdjust Your Scenario
$9,875
$9,875$124,681
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.23% (FHA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,186/moAssumable @ 4.23% + gap loan
$1,240/moAssumed loan: $357/mo
Gap financing: $883/mo
Your Savings on This Property
801 Pennsylvania, Denver · 4.23% 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 ($124,681) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,875, 5% of purchase price) and a second mortgage for the rest ($114,806 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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