Loan Comparison: 3.76% vs 6.5%
2469 Devonshire Court, Denver, CO 80229 · 2bd/3ba · $292,900
List Price
$292,900
Assumable Rate
3.76%
Remaining Balance
$264,939
Equity Gap
$27,960
Loan Type
FHAAdjust Your Scenario
$14,645
$14,645$27,960
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,759/moAssumable @ 3.76% + gap loan
$1,322/moAssumed loan: $1,228/mo
Gap financing: $93/mo
$437less per month with the assumable
Your Savings on This Property
2469 Devonshire Court, Denver · 3.76% FHA vs 6.5% conventional
$437
per month
$5,246
per year
$157,386
over 30 years
$157,385
interest saved
How gap financing works: The equity gap ($27,960) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,645, 5% of purchase price) and a second mortgage for the rest ($13,315 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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