Loan Comparison: 3.47% vs 6.5%
6616 Lincoln, Centennial, CO 80121 · 4bd/2ba · $649,000
List Price
$649,000
Assumable Rate
3.47%
Remaining Balance
$259,707
Equity Gap
$389,999
Loan Type
FHAAdjust Your Scenario
$32,450
$32,450$389,999
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,897/moAssumable @ 3.47% + gap loan
$3,911/moAssumed loan: $1,162/mo
Gap financing: $2,749/mo
Your Savings on This Property
6616 Lincoln, Centennial · 3.47% 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 ($389,999) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,450, 5% of purchase price) and a second mortgage for the rest ($357,549 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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