Loan Comparison: 5.23% vs 6.5%
4819 Halifax, Denver, CO 80249 · 2bd/3ba · $473,000
List Price
$473,000
Assumable Rate
5.23%
Remaining Balance
$460,706
Equity Gap
$32,586
Loan Type
FHAAdjust Your Scenario
$23,650
$23,650$32,586
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,840/moAssumable @ 5.23% + gap loan
$2,607/moAssumed loan: $2,538/mo
Gap financing: $69/mo
$233less per month with the assumable
Your Savings on This Property
4819 Halifax, Denver · 5.23% FHA vs 6.5% conventional
$233
per month
$2,798
per year
$83,936
over 30 years
$104,228
interest saved
How gap financing works: The equity gap ($32,586) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,650, 5% of purchase price) and a second mortgage for the rest ($8,936 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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