Loan Comparison: 5.81% vs 6.5%
8225 Fairmount, Denver, CO 80247 · 1bd/1ba · $209,500
List Price
$209,500
Assumable Rate
5.81%
Remaining Balance
$72,026
Equity Gap
$137,382
Loan Type
FHAAdjust Your Scenario
$10,475
$10,475$137,382
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (FHA)
Blended Rate: 7.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,258/moAssumable @ 5.81% + gap loan
$1,399/moAssumed loan: $423/mo
Gap financing: $976/mo
Your Savings on This Property
8225 Fairmount, Denver · 5.81% 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 ($137,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,475, 5% of purchase price) and a second mortgage for the rest ($126,907 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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