Loan Comparison: 3.9% vs 6.5%
5535 Killarney Court, Denver, CO 80249 · 2bd/3ba · $419,950
List Price
$419,950
Assumable Rate
3.9%
Remaining Balance
$242,755
Equity Gap
$177,194
Loan Type
FHAAdjust Your Scenario
$20,998
$20,998$177,194
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.9% + gap loan
$2,237/moAssumed loan: $1,145/mo
Gap financing: $1,092/mo
$285less per month with the assumable
Your Savings on This Property
5535 Killarney Court, Denver · 3.9% FHA vs 6.5% conventional
$285
per month
$3,414
per year
$102,423
over 30 years
$102,421
interest saved
How gap financing works: The equity gap ($177,194) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,998, 5% of purchase price) and a second mortgage for the rest ($156,196 at 7.5%). 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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