Loan Comparison: 4.44% vs 6.5%
4651 Washington, Englewood, CO 80113 · 3bd/2ba · $586,000
List Price
$586,000
Assumable Rate
4.44%
Remaining Balance
$346,632
Equity Gap
$237,841
Loan Type
FHAAdjust Your Scenario
$29,300
$29,300$237,841
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.44% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,519/moAssumable @ 4.44% + gap loan
$3,347/moAssumed loan: $1,744/mo
Gap financing: $1,603/mo
$171less per month with the assumable
Your Savings on This Property
4651 Washington, Englewood · 4.44% FHA vs 6.5% conventional
$171
per month
$2,055
per year
$61,641
over 30 years
$60,114
interest saved
How gap financing works: The equity gap ($237,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,300, 5% of purchase price) and a second mortgage for the rest ($208,541 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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