Loan Comparison: 6% vs 6.5%
3102 Gaylord, Denver, CO 80205 · 0bd/0ba · $625,000
List Price
$625,000
Assumable Rate
6%
Remaining Balance
$103,120
Equity Gap
$521,879
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$521,879
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 8.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 6% + gap loan
$4,391/moAssumed loan: $618/mo
Gap financing: $3,773/mo
Your Savings on This Property
3102 Gaylord, Denver · 6% 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 ($521,879) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($490,629 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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