Loan Comparison: 2.81% vs 6.5%
45 Yates Street, Denver, CO 80219 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.81%
Remaining Balance
$379,221
Equity Gap
$145,779
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$145,779
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.81% + gap loan
$2,396/moAssumed loan: $1,560/mo
Gap financing: $836/mo
$756less per month with the assumable
Your Savings on This Property
45 Yates Street, Denver · 2.81% FHA vs 6.5% conventional
$756
per month
$9,078
per year
$272,326
over 30 years
$272,326
interest saved
How gap financing works: The equity gap ($145,779) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($119,529 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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