Loan Comparison: 3.45% vs 6.5%
2685 Dayton Way, Denver, CO 80231 · 1bd/1ba · $405,000
List Price
$405,000
Assumable Rate
3.45%
Remaining Balance
$373,490
Equity Gap
$31,509
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$31,509
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.45% + gap loan
$1,745/moAssumed loan: $1,667/mo
Gap financing: $79/mo
$686less per month with the assumable
Your Savings on This Property
2685 Dayton Way, Denver · 3.45% FHA vs 6.5% conventional
$686
per month
$8,237
per year
$247,114
over 30 years
$247,113
interest saved
How gap financing works: The equity gap ($31,509) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($11,259 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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