Loan Comparison: 3.6% vs 6.5%
961 83rd Place, Denver, CO 80229 · 2bd/2ba · $499,999
List Price
$499,999
Assumable Rate
3.6%
Remaining Balance
$157,926
Equity Gap
$342,073
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$342,073
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (FHA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.6% + gap loan
$2,935/moAssumed loan: $718/mo
Gap financing: $2,217/mo
$67less per month with the assumable
Your Savings on This Property
961 83rd Place, Denver · 3.6% FHA vs 6.5% conventional
$67
per month
$808
per year
$24,226
over 30 years
$24,226
interest saved
How gap financing works: The equity gap ($342,073) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($317,073 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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