Loan Comparison: 3.625% vs 6.5%
2374 University Boulevard, Denver, CO 80210 · 3bd/3ba · $290,000
List Price
$290,000
Assumable Rate
3.625%
Remaining Balance
$9,836
Equity Gap
$280,163
Loan Type
FHAAdjust Your Scenario
$14,500
$14,500$280,163
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.625% (FHA)
Blended Rate: 7.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 3.625% + gap loan
$1,902/moAssumed loan: $45/mo
Gap financing: $1,858/mo
Your Savings on This Property
2374 University Boulevard, Denver · 3.625% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($280,163) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($265,663 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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