Loan Comparison: 6% vs 6.5%
19809 41st, Denver, CO 80249 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
6%
Remaining Balance
$139,540
Equity Gap
$284,707
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$284,707
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 7.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 6% + gap loan
$2,862/moAssumed loan: $837/mo
Gap financing: $2,026/mo
Your Savings on This Property
19809 41st, Denver · 6% 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 ($284,707) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($263,457 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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