Loan Comparison: 3.45% vs 6.5%
8199 Welby Road, Denver, CO 80229 · 4bd/2ba · $299,000
List Price
$299,000
Assumable Rate
3.45%
Remaining Balance
$226,104
Equity Gap
$72,896
Loan Type
FHAAdjust Your Scenario
$14,950
$14,950$72,896
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,795/moAssumable @ 3.45% + gap loan
$1,414/moAssumed loan: $1,009/mo
Gap financing: $405/mo
$381less per month with the assumable
Your Savings on This Property
8199 Welby Road, Denver · 3.45% FHA vs 6.5% conventional
$381
per month
$4,575
per year
$137,237
over 30 years
$137,237
interest saved
How gap financing works: The equity gap ($72,896) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,950, 5% of purchase price) and a second mortgage for the rest ($57,946 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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