Loan Comparison: 2.68% vs 6.5%
17452 Progress, Centennial, CO 80015 · 3bd/3ba · $519,000
List Price
$519,000
Assumable Rate
2.68%
Remaining Balance
$361,793
Equity Gap
$157,207
Loan Type
FHAAdjust Your Scenario
$25,950
$25,950$157,207
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,116/moAssumable @ 2.68% + gap loan
$2,473/moAssumed loan: $1,464/mo
Gap financing: $1,009/mo
$644less per month with the assumable
Your Savings on This Property
17452 Progress, Centennial · 2.68% FHA vs 6.5% conventional
$644
per month
$7,723
per year
$231,678
over 30 years
$231,678
interest saved
How gap financing works: The equity gap ($157,207) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,950, 5% of purchase price) and a second mortgage for the rest ($131,257 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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