Loan Comparison: 3.46% vs 6.5%
1343 Valentia Street, Denver, CO 80220 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.46%
Remaining Balance
$143,232
Equity Gap
$281,767
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$281,767
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (FHA)
Blended Rate: 6.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.46% + gap loan
$2,462/moAssumed loan: $640/mo
Gap financing: $1,822/mo
$90less per month with the assumable
Your Savings on This Property
1343 Valentia Street, Denver · 3.46% FHA vs 6.5% conventional
$90
per month
$1,085
per year
$32,551
over 30 years
$32,550
interest saved
How gap financing works: The equity gap ($281,767) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($260,517 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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