Loan Comparison: 3.84% vs 6.5%
630 Clay Street, Denver, CO 80219 · 2bd/1ba · $699,900
List Price
$699,900
Assumable Rate
3.84%
Remaining Balance
$101,605
Equity Gap
$598,294
Loan Type
FHAAdjust Your Scenario
$34,995
$34,995$598,294
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.84% (FHA)
Blended Rate: 6.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.84% + gap loan
$4,414/moAssumed loan: $476/mo
Gap financing: $3,939/mo
Your Savings on This Property
630 Clay Street, Denver · 3.84% 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 ($598,294) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($563,299 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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