Loan Comparison: 2.8% vs 6.5%
18753 51st Avenue, Denver, CO 80012 · 2bd/3ba · $415,000
List Price
$415,000
Assumable Rate
2.8%
Remaining Balance
$309,846
Equity Gap
$105,154
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$105,154
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (FHA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.8% + gap loan
$1,863/moAssumed loan: $1,273/mo
Gap financing: $590/mo
$629less per month with the assumable
Your Savings on This Property
18753 51st Avenue, Denver · 2.8% FHA vs 6.5% conventional
$629
per month
$7,543
per year
$226,304
over 30 years
$226,304
interest saved
How gap financing works: The equity gap ($105,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($84,404 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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