Loan Comparison: 3.69% vs 6.5%
6567 Ceylon Street, Denver, CO 80249 · 4bd/1ba · $599,000
List Price
$599,000
Assumable Rate
3.69%
Remaining Balance
$495,812
Equity Gap
$103,187
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$103,187
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 3.69% + gap loan
$2,791/moAssumed loan: $2,279/mo
Gap financing: $512/mo
$805less per month with the assumable
Your Savings on This Property
6567 Ceylon Street, Denver · 3.69% FHA vs 6.5% conventional
$805
per month
$9,664
per year
$289,931
over 30 years
$289,930
interest saved
How gap financing works: The equity gap ($103,187) 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 ($73,237 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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