Loan Comparison: 3.67% vs 6.5%
745 Alton Way, Denver, CO 80247 · 3bd/3ba · $209,990
List Price
$209,990
Assumable Rate
3.67%
Remaining Balance
$92,198
Equity Gap
$117,792
Loan Type
FHAAdjust Your Scenario
$10,500
$10,500$117,792
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 3.67% + gap loan
$1,173/moAssumed loan: $423/mo
Gap financing: $750/mo
$88less per month with the assumable
Your Savings on This Property
745 Alton Way, Denver · 3.67% FHA vs 6.5% conventional
$88
per month
$1,055
per year
$31,646
over 30 years
$31,646
interest saved
How gap financing works: The equity gap ($117,792) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($107,292 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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