Loan Comparison: 6% vs 6.5%
3855 Monaco Street, Denver, CO 80237 · 2bd/3ba · $299,900
List Price
$299,900
Assumable Rate
6%
Remaining Balance
$199,400
Equity Gap
$100,299
Loan Type
FHAAdjust Your Scenario
$14,995
$14,995$100,299
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 6.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 6% + gap loan
$1,851/moAssumed loan: $1,196/mo
Gap financing: $656/mo
Your Savings on This Property
3855 Monaco Street, 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 ($100,299) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,995, 5% of purchase price) and a second mortgage for the rest ($85,304 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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