Loan Comparison: 5.84% vs 6.5%
6601 Fern, Denver, CO 80221 · 4bd/5ba · $850,000
List Price
$850,000
Assumable Rate
5.84%
Remaining Balance
$707,142
Equity Gap
$141,047
Loan Type
FHAAdjust Your Scenario
$42,500
$42,500$141,047
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.84% (FHA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 5.84% + gap loan
$4,925/moAssumed loan: $4,167/mo
Gap financing: $758/mo
$179less per month with the assumable
Your Savings on This Property
6601 Fern, Denver · 5.84% FHA vs 6.5% conventional
$179
per month
$2,148
per year
$64,440
over 30 years
$62,629
interest saved
How gap financing works: The equity gap ($141,047) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($98,547 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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