Loan Comparison: 2.87% vs 6.5%
2443 Williams, Denver, CO 80210 · 3bd/2ba · $545,000
List Price
$545,000
Assumable Rate
2.87%
Remaining Balance
$429,363
Equity Gap
$108,996
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$108,996
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 2.87% + gap loan
$2,409/moAssumed loan: $1,780/mo
Gap financing: $629/mo
$864less per month with the assumable
Your Savings on This Property
2443 Williams, Denver · 2.87% FHA vs 6.5% conventional
$864
per month
$10,365
per year
$310,942
over 30 years
$304,301
interest saved
How gap financing works: The equity gap ($108,996) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($81,746 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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