Loan Comparison: 2.72% vs 6.5%
8964 Dartmouth Place, Denver, CO 80227 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
2.72%
Remaining Balance
$239,167
Equity Gap
$95,832
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$95,832
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (FHA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 2.72% + gap loan
$1,526/moAssumed loan: $973/mo
Gap financing: $553/mo
$486less per month with the assumable
Your Savings on This Property
8964 Dartmouth Place, Denver · 2.72% FHA vs 6.5% conventional
$486
per month
$5,832
per year
$174,968
over 30 years
$174,967
interest saved
How gap financing works: The equity gap ($95,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($79,082 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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