Loan Comparison: 3.45% vs 6.5%
7105 Hudson, Centennial, CO 80122 · 5bd/4ba · $970,000
List Price
$970,000
Assumable Rate
3.45%
Remaining Balance
$583,617
Equity Gap
$402,028
Loan Type
FHAAdjust Your Scenario
$48,500
$48,500$402,028
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,825/moAssumable @ 3.45% + gap loan
$5,323/moAssumed loan: $2,604/mo
Gap financing: $2,718/mo
$502less per month with the assumable
Your Savings on This Property
7105 Hudson, Centennial · 3.45% FHA vs 6.5% conventional
$502
per month
$6,021
per year
$180,628
over 30 years
$196,273
interest saved
How gap financing works: The equity gap ($402,028) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,500, 5% of purchase price) and a second mortgage for the rest ($353,528 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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