Loan Comparison: 4.14% vs 6.5%
705 Alton Way, Denver, CO 80247 · 3bd/2ba · $162,000
List Price
$162,000
Assumable Rate
4.14%
Remaining Balance
$113,512
Equity Gap
$48,487
Loan Type
FHAAdjust Your Scenario
$8,100
$8,100$48,487
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$973/moAssumable @ 4.14% + gap loan
$834/moAssumed loan: $551/mo
Gap financing: $282/mo
$139less per month with the assumable
Your Savings on This Property
705 Alton Way, Denver · 4.14% FHA vs 6.5% conventional
$139
per month
$1,671
per year
$50,125
over 30 years
$50,124
interest saved
How gap financing works: The equity gap ($48,487) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,100, 5% of purchase price) and a second mortgage for the rest ($40,387 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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