Loan Comparison: 4.17% vs 6.5%
20723 43rd Avenue, Denver, CO 80249 · 2bd/3ba · $445,000
List Price
$445,000
Assumable Rate
4.17%
Remaining Balance
$342,907
Equity Gap
$102,092
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$102,092
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 4.17% + gap loan
$2,229/moAssumed loan: $1,671/mo
Gap financing: $558/mo
$443less per month with the assumable
Your Savings on This Property
20723 43rd Avenue, Denver · 4.17% FHA vs 6.5% conventional
$443
per month
$5,315
per year
$159,453
over 30 years
$159,452
interest saved
How gap financing works: The equity gap ($102,092) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($79,842 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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