Loan Comparison: 4.53% vs 6.5%
5228 Jericho, Centennial, CO 80015 · 3bd/2ba · $500,000
List Price
$500,000
Assumable Rate
4.53%
Remaining Balance
$365,574
Equity Gap
$198,562
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$198,562
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.53% + gap loan
$3,193/moAssumed loan: $1,859/mo
Gap financing: $1,335/mo
Your Savings on This Property
5228 Jericho, Centennial · 4.53% 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 ($198,562) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($173,562 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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