Loan Comparison: 2.35% vs 6.5%
12272 Burlington Place, Denver, CO 80239 · 4bd/3ba · $455,000
List Price
$455,000
Assumable Rate
2.35%
Remaining Balance
$146,761
Equity Gap
$308,238
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$308,238
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.35% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.35% + gap loan
$2,565/moAssumed loan: $569/mo
Gap financing: $1,996/mo
$167less per month with the assumable
Your Savings on This Property
12272 Burlington Place, Denver · 2.35% FHA vs 6.5% conventional
$167
per month
$2,009
per year
$60,278
over 30 years
$60,277
interest saved
How gap financing works: The equity gap ($308,238) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($285,488 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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