Loan Comparison: 4.4% vs 6.5%
1050 Monaco Street Parkway, Denver, CO 80224 · 3bd/4ba · $414,000
List Price
$414,000
Assumable Rate
4.4%
Remaining Balance
$255,774
Equity Gap
$158,225
Loan Type
FHAAdjust Your Scenario
$20,700
$20,700$158,225
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.4% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,486/moAssumable @ 4.4% + gap loan
$2,242/moAssumed loan: $1,281/mo
Gap financing: $962/mo
$244less per month with the assumable
Your Savings on This Property
1050 Monaco Street Parkway, Denver · 4.4% FHA vs 6.5% conventional
$244
per month
$2,922
per year
$87,665
over 30 years
$87,664
interest saved
How gap financing works: The equity gap ($158,225) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,700, 5% of purchase price) and a second mortgage for the rest ($137,525 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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