Loan Comparison: 3.15% vs 6.5%
4426 Durham Court, Denver, CO 80239 · 3bd/3ba · $446,000
List Price
$446,000
Assumable Rate
3.15%
Remaining Balance
$310,955
Equity Gap
$135,045
Loan Type
FHAAdjust Your Scenario
$22,300
$22,300$135,045
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.15% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,678/moAssumable @ 3.15% + gap loan
$2,125/moAssumed loan: $1,336/mo
Gap financing: $788/mo
$553less per month with the assumable
Your Savings on This Property
4426 Durham Court, Denver · 3.15% FHA vs 6.5% conventional
$553
per month
$6,641
per year
$199,244
over 30 years
$199,244
interest saved
How gap financing works: The equity gap ($135,045) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,300, 5% of purchase price) and a second mortgage for the rest ($112,745 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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