Loan Comparison: 3.9% vs 6.5%
6952 Mariposa Street, Denver, CO 80221 · 2bd/3ba · $300,000
List Price
$300,000
Assumable Rate
3.9%
Remaining Balance
$200,688
Equity Gap
$99,311
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$99,311
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.9% + gap loan
$1,536/moAssumed loan: $947/mo
Gap financing: $590/mo
$265less per month with the assumable
Your Savings on This Property
6952 Mariposa Street, Denver · 3.9% FHA vs 6.5% conventional
$265
per month
$3,184
per year
$95,507
over 30 years
$95,506
interest saved
How gap financing works: The equity gap ($99,311) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($84,311 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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