Loan Comparison: 2.81% vs 6.5%
9155 Center Avenue, Denver, CO 80247 · 2bd/2ba · $210,000
List Price
$210,000
Assumable Rate
2.81%
Remaining Balance
$125,814
Equity Gap
$84,186
Loan Type
FHAAdjust Your Scenario
$10,500
$10,500$84,186
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 2.81% + gap loan
$1,033/moAssumed loan: $518/mo
Gap financing: $515/mo
$228less per month with the assumable
Your Savings on This Property
9155 Center Avenue, Denver · 2.81% FHA vs 6.5% conventional
$228
per month
$2,737
per year
$82,123
over 30 years
$82,123
interest saved
How gap financing works: The equity gap ($84,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($73,686 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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