Loan Comparison: 3.21% vs 6.5%
1378 Akron Way, Denver, CO 80239 · 2bd/2ba · $499,990
List Price
$499,990
Assumable Rate
3.21%
Remaining Balance
$322,386
Equity Gap
$177,604
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$177,604
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.21% (FHA)
Blended Rate: 4.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.21% + gap loan
$2,463/moAssumed loan: $1,396/mo
Gap financing: $1,067/mo
$539less per month with the assumable
Your Savings on This Property
1378 Akron Way, Denver · 3.21% FHA vs 6.5% conventional
$539
per month
$6,471
per year
$194,133
over 30 years
$194,132
interest saved
How gap financing works: The equity gap ($177,604) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($152,604 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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