Loan Comparison: 3.02% vs 6.5%
18619 50th Place, Denver, CO 80249 · 2bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.02%
Remaining Balance
$309,831
Equity Gap
$140,168
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$140,168
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.02% + gap loan
$2,132/moAssumed loan: $1,310/mo
Gap financing: $823/mo
$570less per month with the assumable
Your Savings on This Property
18619 50th Place, Denver · 3.02% FHA vs 6.5% conventional
$570
per month
$6,837
per year
$205,104
over 30 years
$205,103
interest saved
How gap financing works: The equity gap ($140,168) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($117,668 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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