Loan Comparison: 2.94% vs 6.5%
5932 Culebra, Golden, CO 80403 · 3bd/3ba · $720,000
List Price
$720,000
Assumable Rate
2.94%
Remaining Balance
$333,285
Equity Gap
$386,714
Loan Type
FHAAdjust Your Scenario
$36,000
$36,000$386,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 2.94% + gap loan
$4,091/moAssumed loan: $1,394/mo
Gap financing: $2,697/mo
$232less per month with the assumable
Your Savings on This Property
5932 Culebra, Golden · 2.94% FHA vs 6.5% conventional
$232
per month
$2,787
per year
$83,620
over 30 years
$83,619
interest saved
How gap financing works: The equity gap ($386,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($350,714 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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