Loan Comparison: 2.77% vs 6.5%
1141 Zenobia, Denver, CO 80219 · 4bd/1ba · $333,200
List Price
$333,200
Assumable Rate
2.77%
Remaining Balance
$259,119
Equity Gap
$74,081
Loan Type
FHAAdjust Your Scenario
$16,660
$16,660$74,081
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,001/moAssumable @ 2.77% + gap loan
$1,502/moAssumed loan: $1,061/mo
Gap financing: $442/mo
$499less per month with the assumable
Your Savings on This Property
1141 Zenobia, Denver · 2.77% FHA vs 6.5% conventional
$499
per month
$5,984
per year
$179,515
over 30 years
$179,515
interest saved
How gap financing works: The equity gap ($74,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,660, 5% of purchase price) and a second mortgage for the rest ($57,421 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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