Loan Comparison: 3.9% vs 6.5%
635 Alton Way, Denver, CO 80247 · 2bd/3ba · $199,900
List Price
$199,900
Assumable Rate
3.9%
Remaining Balance
$60,950
Equity Gap
$138,949
Loan Type
FHAAdjust Your Scenario
$9,995
$9,995$138,949
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 3.9% + gap loan
$1,189/moAssumed loan: $287/mo
Gap financing: $902/mo
$11less per month with the assumable
Your Savings on This Property
635 Alton Way, Denver · 3.9% FHA vs 6.5% conventional
$11
per month
$134
per year
$4,025
over 30 years
$4,024
interest saved
How gap financing works: The equity gap ($138,949) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,995, 5% of purchase price) and a second mortgage for the rest ($128,954 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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