Loan Comparison: 3.47% vs 6.5%
2361 Eppinger, Denver, CO 80229 · 2bd/2ba · $339,900
List Price
$339,900
Assumable Rate
3.47%
Remaining Balance
$176,402
Equity Gap
$163,497
Loan Type
FHAAdjust Your Scenario
$16,995
$16,995$163,497
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,041/moAssumable @ 3.47% + gap loan
$1,814/moAssumed loan: $789/mo
Gap financing: $1,024/mo
$227less per month with the assumable
Your Savings on This Property
2361 Eppinger, Denver · 3.47% FHA vs 6.5% conventional
$227
per month
$2,729
per year
$81,880
over 30 years
$81,879
interest saved
How gap financing works: The equity gap ($163,497) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,995, 5% of purchase price) and a second mortgage for the rest ($146,502 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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