Loan Comparison: 3.31% vs 6.5%
4684 Chandler Court, Denver, CO 80239 · 2bd/1ba · $418,000
List Price
$418,000
Assumable Rate
3.31%
Remaining Balance
$298,519
Equity Gap
$119,480
Loan Type
FHAAdjust Your Scenario
$20,900
$20,900$119,480
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,510/moAssumable @ 3.31% + gap loan
$1,998/moAssumed loan: $1,309/mo
Gap financing: $689/mo
$512less per month with the assumable
Your Savings on This Property
4684 Chandler Court, Denver · 3.31% FHA vs 6.5% conventional
$512
per month
$6,140
per year
$184,188
over 30 years
$184,187
interest saved
How gap financing works: The equity gap ($119,480) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,900, 5% of purchase price) and a second mortgage for the rest ($98,580 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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