Loan Comparison: 5.41% vs 6.5%
3490 Exposition, Denver, CO 80219 · 3bd/2ba · $479,000
List Price
$479,000
Assumable Rate
5.41%
Remaining Balance
$428,475
Equity Gap
$46,937
Loan Type
FHAAdjust Your Scenario
$23,950
$23,950$46,937
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,876/moAssumable @ 5.41% + gap loan
$2,585/moAssumed loan: $2,409/mo
Gap financing: $177/mo
$291less per month with the assumable
Your Savings on This Property
3490 Exposition, Denver · 5.41% FHA vs 6.5% conventional
$291
per month
$3,489
per year
$104,681
over 30 years
$101,093
interest saved
How gap financing works: The equity gap ($46,937) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,950, 5% of purchase price) and a second mortgage for the rest ($22,987 at 8.5%). 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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