Loan Comparison: 2.65% vs 6.5%
5420 Valentia Street, Denver, CO 80010 · 3bd/1ba · $650,000
List Price
$650,000
Assumable Rate
2.65%
Remaining Balance
$217,951
Equity Gap
$432,048
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$432,048
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.65% (FHA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.65% + gap loan
$3,672/moAssumed loan: $878/mo
Gap financing: $2,794/mo
$231less per month with the assumable
Your Savings on This Property
5420 Valentia Street, Denver · 2.65% FHA vs 6.5% conventional
$231
per month
$2,773
per year
$83,181
over 30 years
$83,180
interest saved
How gap financing works: The equity gap ($432,048) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($399,548 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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