Loan Comparison: 2.67% vs 6.5%
18656 54th Place, Denver, CO 80249 · 5bd/4ba · $400,000
List Price
$400,000
Assumable Rate
2.67%
Remaining Balance
$281,564
Equity Gap
$118,435
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$118,435
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.67% (FHA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.67% + gap loan
$1,826/moAssumed loan: $1,138/mo
Gap financing: $688/mo
$576less per month with the assumable
Your Savings on This Property
18656 54th Place, Denver · 2.67% FHA vs 6.5% conventional
$576
per month
$6,912
per year
$207,368
over 30 years
$207,367
interest saved
How gap financing works: The equity gap ($118,435) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($98,435 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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