Loan Comparison: 3.76% vs 6.5%
9867 Lane Street, Denver, CO 80260 · 4bd/2ba · $259,000
List Price
$259,000
Assumable Rate
3.76%
Remaining Balance
$122,415
Equity Gap
$136,585
Loan Type
FHAAdjust Your Scenario
$12,950
$12,950$136,585
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 5.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,555/moAssumable @ 3.76% + gap loan
$1,432/moAssumed loan: $568/mo
Gap financing: $864/mo
$123less per month with the assumable
Your Savings on This Property
9867 Lane Street, Denver · 3.76% FHA vs 6.5% conventional
$123
per month
$1,477
per year
$44,320
over 30 years
$44,320
interest saved
How gap financing works: The equity gap ($136,585) 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 ($123,635 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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