Loan Comparison: 2.77% vs 6.5%
1141 Zenobia Street, Denver, CO 80219 · 7bd/3ba · $333,200
List Price
$333,200
Assumable Rate
2.77%
Remaining Balance
$256,689
Equity Gap
$76,511
Loan Type
FHAAdjust Your Scenario
$16,660
$16,660$76,511
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,001/moAssumable @ 2.77% + gap loan
$1,469/moAssumed loan: $1,051/mo
Gap financing: $418/mo
$532less per month with the assumable
Your Savings on This Property
1141 Zenobia Street, Denver · 2.77% FHA vs 6.5% conventional
$532
per month
$6,380
per year
$191,387
over 30 years
$191,387
interest saved
How gap financing works: The equity gap ($76,511) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,660, 5% of purchase price) and a second mortgage for the rest ($59,851 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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