Loan Comparison: 3.66% vs 6.5%
9217 Mansfield Avenue, Denver, CO 80239 · 5bd/4ba · $380,000
List Price
$380,000
Assumable Rate
3.66%
Remaining Balance
$271,282
Equity Gap
$108,717
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$108,717
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.66% + gap loan
$1,870/moAssumed loan: $1,243/mo
Gap financing: $627/mo
$412less per month with the assumable
Your Savings on This Property
9217 Mansfield Avenue, Denver · 3.66% FHA vs 6.5% conventional
$412
per month
$4,943
per year
$148,290
over 30 years
$148,289
interest saved
How gap financing works: The equity gap ($108,717) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($89,717 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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