Loan Comparison: 5% vs 6.5%
18328 58th, Golden, CO 80403 · 3bd/2ba · $409,900
List Price
$409,900
Assumable Rate
5%
Remaining Balance
$132,601
Equity Gap
$309,959
Loan Type
FHAAdjust Your Scenario
$20,495
$20,495$309,959
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 7.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,461/moAssumable @ 5% + gap loan
$2,938/moAssumed loan: $712/mo
Gap financing: $2,226/mo
Your Savings on This Property
18328 58th, Golden · 5% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($309,959) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,495, 5% of purchase price) and a second mortgage for the rest ($289,464 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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