Loan Comparison: 5.87% vs 6.5%
15852 48th, Denver, CO 80239 · 3bd/3ba · $420,000
List Price
$420,000
Assumable Rate
5.87%
Remaining Balance
$9,012
Equity Gap
$410,987
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$410,987
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.87% (FHA)
Blended Rate: 8.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 5.87% + gap loan
$3,052/moAssumed loan: $53/mo
Gap financing: $2,999/mo
Your Savings on This Property
15852 48th, Denver · 5.87% 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 ($410,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($389,987 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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