Loan Comparison: 3.98% vs 6.5%
635 Alton Way, Denver, CO 80247 · 3bd/2ba · $219,900
List Price
$219,900
Assumable Rate
3.98%
Remaining Balance
$93,115
Equity Gap
$126,784
Loan Type
FHAAdjust Your Scenario
$10,995
$10,995$126,784
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.98% (FHA)
Blended Rate: 5.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,320/moAssumable @ 3.98% + gap loan
$1,253/moAssumed loan: $443/mo
Gap financing: $810/mo
$67less per month with the assumable
Your Savings on This Property
635 Alton Way, Denver · 3.98% FHA vs 6.5% conventional
$67
per month
$808
per year
$24,241
over 30 years
$24,240
interest saved
How gap financing works: The equity gap ($126,784) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,995, 5% of purchase price) and a second mortgage for the rest ($115,789 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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