Loan Comparison: 2.68% vs 6.5%
11193 Alcott Street, Denver, CO 80234 · 3bd/2ba · $259,000
List Price
$259,000
Assumable Rate
2.68%
Remaining Balance
$210,531
Equity Gap
$48,468
Loan Type
FHAAdjust Your Scenario
$12,950
$12,950$48,468
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,555/moAssumable @ 2.68% + gap loan
$1,100/moAssumed loan: $852/mo
Gap financing: $248/mo
$455less per month with the assumable
Your Savings on This Property
11193 Alcott Street, Denver · 2.68% FHA vs 6.5% conventional
$455
per month
$5,462
per year
$163,861
over 30 years
$163,860
interest saved
How gap financing works: The equity gap ($48,468) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,950, 5% of purchase price) and a second mortgage for the rest ($35,518 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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