Loan Comparison: 2.77% vs 6.5%
2 Adams Street, Denver, CO 80206 · 2bd/3ba · $300,000
List Price
$300,000
Assumable Rate
2.77%
Remaining Balance
$245,148
Equity Gap
$54,852
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$54,852
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.77% + gap loan
$1,282/moAssumed loan: $1,003/mo
Gap financing: $279/mo
$519less per month with the assumable
Your Savings on This Property
2 Adams Street, Denver · 2.77% FHA vs 6.5% conventional
$519
per month
$6,232
per year
$186,966
over 30 years
$186,966
interest saved
How gap financing works: The equity gap ($54,852) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($39,852 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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