Loan Comparison: 3.86% vs 6.5%
21316 55th Place, Denver, CO 80249 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.86%
Remaining Balance
$235,512
Equity Gap
$189,487
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$189,487
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.86% + gap loan
$2,282/moAssumed loan: $1,105/mo
Gap financing: $1,176/mo
$270less per month with the assumable
Your Savings on This Property
21316 55th Place, Denver · 3.86% FHA vs 6.5% conventional
$270
per month
$3,242
per year
$97,269
over 30 years
$97,268
interest saved
How gap financing works: The equity gap ($189,487) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($168,237 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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