Loan Comparison: 3.9% vs 6.5%
4099 Quinn Place, Denver, CO 80236 · 2bd/2ba · $499,900
List Price
$499,900
Assumable Rate
3.9%
Remaining Balance
$260,932
Equity Gap
$238,967
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$238,967
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.9% + gap loan
$2,727/moAssumed loan: $1,231/mo
Gap financing: $1,496/mo
$275less per month with the assumable
Your Savings on This Property
4099 Quinn Place, Denver · 3.9% FHA vs 6.5% conventional
$275
per month
$3,298
per year
$98,952
over 30 years
$98,951
interest saved
How gap financing works: The equity gap ($238,967) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($213,972 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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