Loan Comparison: 4.71% vs 6.5%
4685 Sherman, Englewood, CO 80113 · 2bd/2ba · $427,000
List Price
$427,000
Assumable Rate
4.71%
Remaining Balance
$96,972
Equity Gap
$330,027
Loan Type
FHAAdjust Your Scenario
$21,350
$21,350$330,027
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.71% (FHA)
Blended Rate: 7.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,564/moAssumable @ 4.71% + gap loan
$2,877/moAssumed loan: $504/mo
Gap financing: $2,373/mo
Your Savings on This Property
4685 Sherman, Englewood · 4.71% 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 ($330,027) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,350, 5% of purchase price) and a second mortgage for the rest ($308,677 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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