Loan Comparison: 2.86% vs 6.5%
2507 Central Park Boulevard, Denver, CO 80247 · 2bd/2ba · $565,000
List Price
$565,000
Assumable Rate
2.86%
Remaining Balance
$394,505
Equity Gap
$170,495
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$170,495
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.86% + gap loan
$2,628/moAssumed loan: $1,634/mo
Gap financing: $995/mo
$764less per month with the assumable
Your Savings on This Property
2507 Central Park Boulevard, Denver · 2.86% FHA vs 6.5% conventional
$764
per month
$9,173
per year
$275,190
over 30 years
$275,190
interest saved
How gap financing works: The equity gap ($170,495) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($142,245 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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