Loan Comparison: 4.44% vs 6.5%
4651 Washington, Englewood, CO 80113 · 3bd/2ba · $589,000
List Price
$589,000
Assumable Rate
4.44%
Remaining Balance
$347,397
Equity Gap
$241,603
Loan Type
FHAAdjust Your Scenario
$29,450
$29,450$241,603
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.44% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,537/moAssumable @ 4.44% + gap loan
$3,379/moAssumed loan: $1,748/mo
Gap financing: $1,631/mo
$158less per month with the assumable
Your Savings on This Property
4651 Washington, Englewood · 4.44% FHA vs 6.5% conventional
$158
per month
$1,891
per year
$56,742
over 30 years
$56,742
interest saved
How gap financing works: The equity gap ($241,603) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,450, 5% of purchase price) and a second mortgage for the rest ($212,153 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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