Loan Comparison: 5.23% vs 6.5%
19196 55th, Denver, CO 80249 · 2bd/2ba · $409,999
List Price
$409,999
Assumable Rate
5.23%
Remaining Balance
$387,979
Equity Gap
$22,020
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$22,020
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 5.23% + gap loan
$2,149/moAssumed loan: $2,138/mo
Gap financing: $12/mo
$313less per month with the assumable
Your Savings on This Property
19196 55th, Denver · 5.23% FHA vs 6.5% conventional
$313
per month
$3,751
per year
$112,529
over 30 years
$112,529
interest saved
How gap financing works: The equity gap ($22,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($1,520 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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