Loan Comparison: 3.66% vs 6.5%
700 Alton Way, Denver, CO 80247 · 4bd/4ba · $154,900
List Price
$154,900
Assumable Rate
3.66%
Remaining Balance
$92,026
Equity Gap
$62,874
Loan Type
FHAAdjust Your Scenario
$7,745
$7,745$62,874
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$930/moAssumable @ 3.66% + gap loan
$807/moAssumed loan: $422/mo
Gap financing: $385/mo
$123less per month with the assumable
Your Savings on This Property
700 Alton Way, Denver · 3.66% FHA vs 6.5% conventional
$123
per month
$1,478
per year
$44,334
over 30 years
$44,334
interest saved
How gap financing works: The equity gap ($62,874) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,745, 5% of purchase price) and a second mortgage for the rest ($55,129 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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