Loan Comparison: 4.17% vs 6.5%
2121 Lowell Boulevard, Denver, CO 80219 · 3bd/2ba · $500,000
List Price
$500,000
Assumable Rate
4.17%
Remaining Balance
$327,641
Equity Gap
$172,358
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$172,358
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.17% + gap loan
$2,627/moAssumed loan: $1,596/mo
Gap financing: $1,030/mo
$375less per month with the assumable
Your Savings on This Property
2121 Lowell Boulevard, Denver · 4.17% FHA vs 6.5% conventional
$375
per month
$4,506
per year
$135,175
over 30 years
$135,174
interest saved
How gap financing works: The equity gap ($172,358) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($147,358 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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