Loan Comparison: 3.5% vs 6.5%
1709 Xenia Street, Denver, CO 80220 · 3bd/4ba · $599,000
List Price
$599,000
Assumable Rate
3.5%
Remaining Balance
$412,508
Equity Gap
$186,491
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$186,491
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (FHA)
Blended Rate: 4.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 3.5% + gap loan
$2,947/moAssumed loan: $1,852/mo
Gap financing: $1,095/mo
$650less per month with the assumable
Your Savings on This Property
1709 Xenia Street, Denver · 3.5% FHA vs 6.5% conventional
$650
per month
$7,799
per year
$233,957
over 30 years
$233,956
interest saved
How gap financing works: The equity gap ($186,491) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($156,541 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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