Loan Comparison: 3.58% vs 6.5%
3720 99th Way, Denver, CO 80229 · 3bd/2ba · $459,900
List Price
$459,900
Assumable Rate
3.58%
Remaining Balance
$292,825
Equity Gap
$167,075
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$167,075
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.58% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 3.58% + gap loan
$2,335/moAssumed loan: $1,328/mo
Gap financing: $1,007/mo
$426less per month with the assumable
Your Savings on This Property
3720 99th Way, Denver · 3.58% FHA vs 6.5% conventional
$426
per month
$5,113
per year
$153,390
over 30 years
$153,390
interest saved
How gap financing works: The equity gap ($167,075) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($144,080 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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