Loan Comparison: 3.65% vs 6.5%
1372 Zenobia Street, Denver, CO 80219 · 4bd/2ba · $1,050,000
List Price
$1,050,000
Assumable Rate
3.65%
Remaining Balance
$152,487
Equity Gap
$897,512
Loan Type
FHAAdjust Your Scenario
$52,500
$52,500$897,512
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.65% (FHA)
Blended Rate: 6.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 3.65% + gap loan
$6,606/moAssumed loan: $698/mo
Gap financing: $5,908/mo
Your Savings on This Property
1372 Zenobia Street, Denver · 3.65% 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 ($897,512) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($845,012 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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