Loan Comparison: 2.72% vs 6.5%
4640 Everett Street, Denver, CO 80123 · 3bd/1ba · $550,000
List Price
$550,000
Assumable Rate
2.72%
Remaining Balance
$248,241
Equity Gap
$301,758
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$301,758
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (FHA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.72% + gap loan
$2,927/moAssumed loan: $1,009/mo
Gap financing: $1,918/mo
$375less per month with the assumable
Your Savings on This Property
4640 Everett Street, Denver · 2.72% FHA vs 6.5% conventional
$375
per month
$4,505
per year
$135,152
over 30 years
$135,151
interest saved
How gap financing works: The equity gap ($301,758) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($274,258 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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