Loan Comparison: 3.5% vs 6.5%
5741 Kingston, Englewood, CO 80111 · 5bd/4ba · $979,900
List Price
$979,900
Assumable Rate
3.5%
Remaining Balance
$377,171
Equity Gap
$602,729
Loan Type
FHAAdjust Your Scenario
$48,995
$48,995$602,729
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (FHA)
Blended Rate: 6.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,884/moAssumable @ 3.5% + gap loan
$5,951/moAssumed loan: $1,694/mo
Gap financing: $4,258/mo
Your Savings on This Property
5741 Kingston, Englewood · 3.5% 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 ($602,729) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,995, 5% of purchase price) and a second mortgage for the rest ($553,734 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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