Loan Comparison: 3.61% vs 6.5%
5288 Fairplay Street, Denver, CO 80239 · 5bd/2ba · $459,900
List Price
$459,900
Assumable Rate
3.61%
Remaining Balance
$194,450
Equity Gap
$265,450
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$265,450
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.61% + gap loan
$2,580/moAssumed loan: $885/mo
Gap financing: $1,695/mo
$181less per month with the assumable
Your Savings on This Property
5288 Fairplay Street, Denver · 3.61% FHA vs 6.5% conventional
$181
per month
$2,173
per year
$65,198
over 30 years
$65,198
interest saved
How gap financing works: The equity gap ($265,450) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($242,455 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.
🏠
Back to This Listing
View photos, details, and request a showing for 5288 Fairplay Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.