Loan Comparison: 2.99% vs 6.5%
18619 50th Place, Denver, CO 80017 · 3bd/3ba · $430,000
List Price
$430,000
Assumable Rate
2.99%
Remaining Balance
$308,903
Equity Gap
$121,096
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$121,096
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 2.99% + gap loan
$1,997/moAssumed loan: $1,301/mo
Gap financing: $696/mo
$585less per month with the assumable
Your Savings on This Property
18619 50th Place, Denver · 2.99% FHA vs 6.5% conventional
$585
per month
$7,019
per year
$210,573
over 30 years
$210,572
interest saved
How gap financing works: The equity gap ($121,096) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($99,596 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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