Loan Comparison: 4.14% vs 6.5%
6120 Arkansas, Denver, CO 80232 · 5bd/2ba · $515,000
List Price
$515,000
Assumable Rate
4.14%
Remaining Balance
$293,620
Equity Gap
$220,747
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$220,747
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.14% + gap loan
$2,925/moAssumed loan: $1,426/mo
Gap financing: $1,499/mo
$167less per month with the assumable
Your Savings on This Property
6120 Arkansas, Denver · 4.14% FHA vs 6.5% conventional
$167
per month
$2,009
per year
$60,281
over 30 years
$59,648
interest saved
How gap financing works: The equity gap ($220,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($194,997 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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