Loan Comparison: 3.45% vs 6.5%
5571 Killarney, Denver, CO 80249 · 2bd/2ba · $444,000
List Price
$444,000
Assumable Rate
3.45%
Remaining Balance
$406,602
Equity Gap
$37,397
Loan Type
FHAAdjust Your Scenario
$22,200
$22,200$37,397
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,666/moAssumable @ 3.45% + gap loan
$1,931/moAssumed loan: $1,814/mo
Gap financing: $117/mo
$735less per month with the assumable
Your Savings on This Property
5571 Killarney, Denver · 3.45% FHA vs 6.5% conventional
$735
per month
$8,817
per year
$264,498
over 30 years
$264,497
interest saved
How gap financing works: The equity gap ($37,397) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,200, 5% of purchase price) and a second mortgage for the rest ($15,197 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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