Loan Comparison: 5.5% vs 6.5%
10521 Taylor, Firestone, CO 80504 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
5.5%
Remaining Balance
$399,209
Equity Gap
$95,155
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$95,155
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 5.5% + gap loan
$2,808/moAssumed loan: $2,267/mo
Gap financing: $541/mo
$164less per month with the assumable
Your Savings on This Property
10521 Taylor, Firestone · 5.5% FHA vs 6.5% conventional
$164
per month
$1,971
per year
$59,141
over 30 years
$58,505
interest saved
How gap financing works: The equity gap ($95,155) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($70,405 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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