Loan Comparison: 2.81% vs 6.5%
4860 Crown Boulevard, Denver, CO 80011 · 3bd/3ba · $620,000
List Price
$620,000
Assumable Rate
2.81%
Remaining Balance
$256,326
Equity Gap
$363,673
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$363,673
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 2.81% + gap loan
$3,381/moAssumed loan: $1,055/mo
Gap financing: $2,326/mo
$342less per month with the assumable
Your Savings on This Property
4860 Crown Boulevard, Denver · 2.81% FHA vs 6.5% conventional
$342
per month
$4,106
per year
$123,189
over 30 years
$123,188
interest saved
How gap financing works: The equity gap ($363,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($332,673 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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