Loan Comparison: 4.14% vs 6.5%
6120 Arkansas, Denver, CO 80232 · 5bd/2ba · $540,000
List Price
$540,000
Assumable Rate
4.14%
Remaining Balance
$294,252
Equity Gap
$245,747
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$245,747
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 4.14% + gap loan
$3,111/moAssumed loan: $1,429/mo
Gap financing: $1,682/mo
$132less per month with the assumable
Your Savings on This Property
6120 Arkansas, Denver · 4.14% FHA vs 6.5% conventional
$132
per month
$1,583
per year
$47,476
over 30 years
$47,475
interest saved
How gap financing works: The equity gap ($245,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($218,747 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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