Loan Comparison: 4.99% vs 6.5%
3666 Depew Street, Denver, CO 80235 · 2bd/1ba · $285,000
List Price
$285,000
Assumable Rate
4.99%
Remaining Balance
$234,778
Equity Gap
$50,221
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$50,221
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (FHA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 4.99% + gap loan
$1,510/moAssumed loan: $1,259/mo
Gap financing: $252/mo
$201less per month with the assumable
Your Savings on This Property
3666 Depew Street, Denver · 4.99% FHA vs 6.5% conventional
$201
per month
$2,411
per year
$72,326
over 30 years
$72,325
interest saved
How gap financing works: The equity gap ($50,221) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($35,971 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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