Loan Comparison: 4.25% vs 6.5%
3047 47th Avenue, Denver, CO 80211 · 3bd/3ba · $155,000
List Price
$155,000
Assumable Rate
4.25%
Remaining Balance
$29,889
Equity Gap
$125,111
Loan Type
FHAAdjust Your Scenario
$7,750
$7,750$125,111
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (FHA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$931/moAssumable @ 4.25% + gap loan
$968/moAssumed loan: $147/mo
Gap financing: $821/mo
Your Savings on This Property
3047 47th Avenue, Denver · 4.25% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($125,111) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,750, 5% of purchase price) and a second mortgage for the rest ($117,361 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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