Loan Comparison: 2.89% vs 6.5%
9449 Inca Court, Denver, CO 80260 · 4bd/2ba · $449,900
List Price
$449,900
Assumable Rate
2.89%
Remaining Balance
$299,318
Equity Gap
$150,582
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$150,582
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.89% + gap loan
$2,140/moAssumed loan: $1,244/mo
Gap financing: $896/mo
$562less per month with the assumable
Your Savings on This Property
9449 Inca Court, Denver · 2.89% FHA vs 6.5% conventional
$562
per month
$6,740
per year
$202,190
over 30 years
$202,190
interest saved
How gap financing works: The equity gap ($150,582) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($128,087 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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