Loan Comparison: 3.61% vs 6.5%
1565 Wolcott Court, Denver, CO 80219 · 2bd/2ba · $285,000
List Price
$285,000
Assumable Rate
3.61%
Remaining Balance
$249,327
Equity Gap
$35,672
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$35,672
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 3.61% + gap loan
$1,285/moAssumed loan: $1,135/mo
Gap financing: $150/mo
$427less per month with the assumable
Your Savings on This Property
1565 Wolcott Court, Denver · 3.61% FHA vs 6.5% conventional
$427
per month
$5,119
per year
$153,570
over 30 years
$153,569
interest saved
How gap financing works: The equity gap ($35,672) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($21,422 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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