Loan Comparison: 2.6% vs 6.5%
9004 Caley, Greenwood Village, CO 80111 · 3bd/4ba · $614,850
List Price
$614,850
Assumable Rate
2.6%
Remaining Balance
$374,476
Equity Gap
$239,451
Loan Type
FHAAdjust Your Scenario
$30,743
$30,743$239,451
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.6% (FHA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,692/moAssumable @ 2.6% + gap loan
$3,104/moAssumed loan: $1,499/mo
Gap financing: $1,605/mo
$588less per month with the assumable
Your Savings on This Property
9004 Caley, Greenwood Village · 2.6% FHA vs 6.5% conventional
$588
per month
$7,056
per year
$211,679
over 30 years
$210,755
interest saved
How gap financing works: The equity gap ($239,451) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,743, 5% of purchase price) and a second mortgage for the rest ($208,708 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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