Loan Comparison: 3.65% vs 6.5%
14400 Albrook, Denver, CO 80239 · 2bd/3ba · $364,900
List Price
$364,900
Assumable Rate
3.65%
Remaining Balance
$245,691
Equity Gap
$119,208
Loan Type
FHAAdjust Your Scenario
$18,245
$18,245$119,208
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.65% (FHA)
Blended Rate: 5.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,191/moAssumable @ 3.65% + gap loan
$1,900/moAssumed loan: $1,124/mo
Gap financing: $776/mo
$291less per month with the assumable
Your Savings on This Property
14400 Albrook, Denver · 3.65% FHA vs 6.5% conventional
$291
per month
$3,490
per year
$104,703
over 30 years
$104,702
interest saved
How gap financing works: The equity gap ($119,208) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,245, 5% of purchase price) and a second mortgage for the rest ($100,963 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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