Loan Comparison: 3.26% vs 6.5%
2540 Valley View Drive, Denver, CO 80221 · 3bd/2ba · $220,000
List Price
$220,000
Assumable Rate
3.26%
Remaining Balance
$67,126
Equity Gap
$152,874
Loan Type
FHAAdjust Your Scenario
$11,000
$11,000$152,874
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.26% (FHA)
Blended Rate: 6.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 3.26% + gap loan
$1,285/moAssumed loan: $293/mo
Gap financing: $992/mo
$37less per month with the assumable
Your Savings on This Property
2540 Valley View Drive, Denver · 3.26% FHA vs 6.5% conventional
$37
per month
$438
per year
$13,145
over 30 years
$13,145
interest saved
How gap financing works: The equity gap ($152,874) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($141,874 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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