Loan Comparison: 3.75% vs 6.5%
478 Logan Street, Denver, CO 80203 · 2bd/2ba · $935,000
List Price
$935,000
Assumable Rate
3.75%
Remaining Balance
$679,370
Equity Gap
$255,629
Loan Type
FHAAdjust Your Scenario
$46,750
$46,750$255,629
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,614/moAssumable @ 3.75% + gap loan
$4,607/moAssumed loan: $3,146/mo
Gap financing: $1,461/mo
$1,008less per month with the assumable
Your Savings on This Property
478 Logan Street, Denver · 3.75% FHA vs 6.5% conventional
$1,008
per month
$12,091
per year
$362,723
over 30 years
$362,722
interest saved
How gap financing works: The equity gap ($255,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,750, 5% of purchase price) and a second mortgage for the rest ($208,879 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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