Loan Comparison: 3.87% vs 6.5%
4664 Clayton Street, Denver, CO 80216 · 2bd/1ba · $380,000
List Price
$380,000
Assumable Rate
3.87%
Remaining Balance
$140,817
Equity Gap
$239,183
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$239,183
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.87% + gap loan
$2,201/moAssumed loan: $662/mo
Gap financing: $1,540/mo
$80less per month with the assumable
Your Savings on This Property
4664 Clayton Street, Denver · 3.87% FHA vs 6.5% conventional
$80
per month
$965
per year
$28,959
over 30 years
$28,959
interest saved
How gap financing works: The equity gap ($239,183) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($220,183 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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