Loan Comparison: 6% vs 6.5%
1212 Mackay, Dacono, CO 80514 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
6%
Remaining Balance
$28,800
Equity Gap
$245,968
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$245,968
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 8.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 6% + gap loan
$1,958/moAssumed loan: $173/mo
Gap financing: $1,786/mo
Your Savings on This Property
1212 Mackay, Dacono · 6% 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 ($245,968) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($232,218 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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