Loan Comparison: 4.44% vs 6.5%
4651 Washington, Englewood, CO 80113 · 3bd/2ba · $539,000
List Price
$539,000
Assumable Rate
4.44%
Remaining Balance
$345,865
Equity Gap
$190,841
Loan Type
FHAAdjust Your Scenario
$26,950
$26,950$190,841
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.44% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 4.44% + gap loan
$3,000/moAssumed loan: $1,740/mo
Gap financing: $1,260/mo
$236less per month with the assumable
Your Savings on This Property
4651 Washington, Englewood · 4.44% FHA vs 6.5% conventional
$236
per month
$2,834
per year
$85,027
over 30 years
$82,733
interest saved
How gap financing works: The equity gap ($190,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($163,891 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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