Loan Comparison: 5% vs 6.5%
7916 Pennsylvania, Denver, CO 80229 · 4bd/2ba · $499,500
List Price
$499,500
Assumable Rate
5%
Remaining Balance
$58,448
Equity Gap
$441,052
Loan Type
FHAAdjust Your Scenario
$24,975
$24,975$441,052
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 8.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,999/moAssumable @ 5% + gap loan
$3,513/moAssumed loan: $314/mo
Gap financing: $3,199/mo
Your Savings on This Property
7916 Pennsylvania, Denver · 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 ($441,052) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,975, 5% of purchase price) and a second mortgage for the rest ($416,077 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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