Loan Comparison: 2.66% vs 6.5%
680 Alton Way, Denver, CO 80247 · 5bd/4ba · $180,000
List Price
$180,000
Assumable Rate
2.66%
Remaining Balance
$75,481
Equity Gap
$104,519
Loan Type
FHAAdjust Your Scenario
$9,000
$9,000$104,519
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,081/moAssumable @ 2.66% + gap loan
$972/moAssumed loan: $305/mo
Gap financing: $668/mo
$108less per month with the assumable
Your Savings on This Property
680 Alton Way, Denver · 2.66% FHA vs 6.5% conventional
$108
per month
$1,301
per year
$39,022
over 30 years
$39,022
interest saved
How gap financing works: The equity gap ($104,519) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,000, 5% of purchase price) and a second mortgage for the rest ($95,519 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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