Loan Comparison: 2.96% vs 6.5%
3551 Yosemite Street, Denver, CO 80238 · 4bd/4ba · $685,000
List Price
$685,000
Assumable Rate
2.96%
Remaining Balance
$533,086
Equity Gap
$151,913
Loan Type
FHAAdjust Your Scenario
$34,250
$34,250$151,913
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 3.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,113/moAssumable @ 2.96% + gap loan
$3,059/moAssumed loan: $2,236/mo
Gap financing: $823/mo
$1,054less per month with the assumable
Your Savings on This Property
3551 Yosemite Street, Denver · 2.96% FHA vs 6.5% conventional
$1,054
per month
$12,653
per year
$379,598
over 30 years
$379,597
interest saved
How gap financing works: The equity gap ($151,913) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,250, 5% of purchase price) and a second mortgage for the rest ($117,663 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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