Loan Comparison: 3.77% vs 6.5%
6544 Lowell, Denver, CO 80221 · 3bd/2ba · $835,000
List Price
$835,000
Assumable Rate
3.77%
Remaining Balance
$741,604
Equity Gap
$93,396
Loan Type
FHAAdjust Your Scenario
$41,750
$41,750$93,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,014/moAssumable @ 3.77% + gap loan
$3,840/moAssumed loan: $3,443/mo
Gap financing: $397/mo
$1,174less per month with the assumable
Your Savings on This Property
6544 Lowell, Denver · 3.77% FHA vs 6.5% conventional
$1,174
per month
$14,086
per year
$422,590
over 30 years
$422,590
interest saved
How gap financing works: The equity gap ($93,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,750, 5% of purchase price) and a second mortgage for the rest ($51,646 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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