Loan Comparison: 5.52% vs 6.5%
10150 Virginia, Denver, CO 80247 · 2bd/2ba · $239,000
List Price
$239,000
Assumable Rate
5.52%
Remaining Balance
$186,630
Equity Gap
$59,297
Loan Type
FHAAdjust Your Scenario
$11,950
$11,950$59,297
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,435/moAssumable @ 5.52% + gap loan
$1,426/moAssumed loan: $1,062/mo
Gap financing: $364/mo
$9less per month with the assumable
Your Savings on This Property
10150 Virginia, Denver · 5.52% FHA vs 6.5% conventional
$9
per month
$109
per year
$3,256
over 30 years
$10,183
interest saved
How gap financing works: The equity gap ($59,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,950, 5% of purchase price) and a second mortgage for the rest ($47,347 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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