Loan Comparison: 2.99% vs 6.5%
9191 Oxford Drive, Denver, CO 80125 · 4bd/4ba · $425,000
List Price
$425,000
Assumable Rate
2.99%
Remaining Balance
$194,431
Equity Gap
$230,569
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$230,569
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.99% + gap loan
$2,282/moAssumed loan: $819/mo
Gap financing: $1,464/mo
$270less per month with the assumable
Your Savings on This Property
9191 Oxford Drive, Denver · 2.99% FHA vs 6.5% conventional
$270
per month
$3,236
per year
$97,094
over 30 years
$97,094
interest saved
How gap financing works: The equity gap ($230,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($209,319 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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