Loan Comparison: 5.5% vs 6.5%
10556 29th, Denver, CO 80238 · 1bd/2ba · $165,964
List Price
$165,964
Assumable Rate
5.5%
Remaining Balance
$69,364
Equity Gap
$96,600
Loan Type
FHAAdjust Your Scenario
$8,298
$8,298$96,600
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$997/moAssumable @ 5.5% + gap loan
$1,073/moAssumed loan: $394/mo
Gap financing: $679/mo
Your Savings on This Property
10556 29th, Denver · 5.5% 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 ($96,600) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,298, 5% of purchase price) and a second mortgage for the rest ($88,302 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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