Loan Comparison: 5.75% vs 6.5%
1121 Albion, Denver, CO 80220 · 1bd/1ba · $139,900
List Price
$139,900
Assumable Rate
5.75%
Remaining Balance
$36,110
Equity Gap
$110,989
Loan Type
FHAAdjust Your Scenario
$6,995
$6,995$110,989
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.75% (FHA)
Blended Rate: 7.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$840/moAssumable @ 5.75% + gap loan
$1,010/moAssumed loan: $211/mo
Gap financing: $800/mo
Your Savings on This Property
1121 Albion, Denver · 5.75% 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 ($110,989) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($6,995, 5% of purchase price) and a second mortgage for the rest ($103,994 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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