Loan Comparison: 3.87% vs 6.5%
695 Alton Way, Denver, CO 80219 · 2bd/1ba · $215,000
List Price
$215,000
Assumable Rate
3.87%
Remaining Balance
$111,239
Equity Gap
$103,760
Loan Type
FHAAdjust Your Scenario
$10,750
$10,750$103,760
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,291/moAssumable @ 3.87% + gap loan
$1,173/moAssumed loan: $523/mo
Gap financing: $650/mo
$118less per month with the assumable
Your Savings on This Property
695 Alton Way, Denver · 3.87% FHA vs 6.5% conventional
$118
per month
$1,415
per year
$42,441
over 30 years
$42,440
interest saved
How gap financing works: The equity gap ($103,760) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,750, 5% of purchase price) and a second mortgage for the rest ($93,010 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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