Loan Comparison: 5.52% vs 6.5%
5255 Memphis, Denver, CO 80239 · 2bd/2ba · $279,900
List Price
$279,900
Assumable Rate
5.52%
Remaining Balance
$246,315
Equity Gap
$33,237
Loan Type
FHAAdjust Your Scenario
$13,995
$13,995$33,237
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 5.52% + gap loan
$1,550/moAssumed loan: $1,402/mo
Gap financing: $148/mo
$131less per month with the assumable
Your Savings on This Property
5255 Memphis, Denver · 5.52% FHA vs 6.5% conventional
$131
per month
$1,573
per year
$47,198
over 30 years
$46,850
interest saved
How gap financing works: The equity gap ($33,237) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,995, 5% of purchase price) and a second mortgage for the rest ($19,242 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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