Loan Comparison: 3.02% vs 6.5%
19001 55Th Avenue, Denver, CO 80249 · 2bd/3ba · $505,000
List Price
$505,000
Assumable Rate
3.02%
Remaining Balance
$371,285
Equity Gap
$133,714
Loan Type
FHAAdjust Your Scenario
$25,250
$25,250$133,714
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,032/moAssumable @ 3.02% + gap loan
$2,328/moAssumed loan: $1,569/mo
Gap financing: $758/mo
$705less per month with the assumable
Your Savings on This Property
19001 55Th Avenue, Denver · 3.02% FHA vs 6.5% conventional
$705
per month
$8,455
per year
$253,652
over 30 years
$253,651
interest saved
How gap financing works: The equity gap ($133,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,250, 5% of purchase price) and a second mortgage for the rest ($108,464 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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