Loan Comparison: 5.5% vs 6.5%
1620 Colorado, Denver, CO 80220 · 2bd/1ba · $250,000
List Price
$250,000
Assumable Rate
5.5%
Remaining Balance
$38,411
Equity Gap
$211,588
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$211,588
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 8.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 5.5% + gap loan
$1,749/moAssumed loan: $218/mo
Gap financing: $1,531/mo
Your Savings on This Property
1620 Colorado, Denver · 5.5% 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 ($211,588) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($199,088 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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