Loan Comparison: 3.31% vs 6.5%
2232 Coronado Parkway, Denver, CO 80229 · 3bd/3ba · $270,000
List Price
$270,000
Assumable Rate
3.31%
Remaining Balance
$187,211
Equity Gap
$82,789
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$82,789
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.31% + gap loan
$1,305/moAssumed loan: $821/mo
Gap financing: $484/mo
$316less per month with the assumable
Your Savings on This Property
2232 Coronado Parkway, Denver · 3.31% FHA vs 6.5% conventional
$316
per month
$3,790
per year
$113,704
over 30 years
$113,704
interest saved
How gap financing works: The equity gap ($82,789) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($69,289 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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