Loan Comparison: 3.47% vs 6.5%
4609 Fontana Way, Denver, CO 80239 · 2bd/3ba · $390,000
List Price
$390,000
Assumable Rate
3.47%
Remaining Balance
$286,269
Equity Gap
$103,730
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$103,730
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.47% + gap loan
$1,870/moAssumed loan: $1,281/mo
Gap financing: $589/mo
$472less per month with the assumable
Your Savings on This Property
4609 Fontana Way, Denver · 3.47% FHA vs 6.5% conventional
$472
per month
$5,666
per year
$169,984
over 30 years
$169,983
interest saved
How gap financing works: The equity gap ($103,730) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($84,230 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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