Loan Comparison: 3.67% vs 6.5%
2849 Syracuse Court, Denver, CO 80238 · 3bd/2ba · $262,931
List Price
$262,931
Assumable Rate
3.67%
Remaining Balance
$105,642
Equity Gap
$157,288
Loan Type
FHAAdjust Your Scenario
$13,147
$13,147$157,288
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,579/moAssumable @ 3.67% + gap loan
$1,492/moAssumed loan: $484/mo
Gap financing: $1,008/mo
$86less per month with the assumable
Your Savings on This Property
2849 Syracuse Court, Denver · 3.67% FHA vs 6.5% conventional
$86
per month
$1,038
per year
$31,137
over 30 years
$31,135
interest saved
How gap financing works: The equity gap ($157,288) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,147, 5% of purchase price) and a second mortgage for the rest ($144,141 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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