Loan Comparison: 3.02% vs 6.5%
20762 44th, Denver, CO 80249 · 3bd/2ba · $449,900
List Price
$449,900
Assumable Rate
3.02%
Remaining Balance
$310,847
Equity Gap
$139,052
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$139,052
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.02% + gap loan
$2,210/moAssumed loan: $1,314/mo
Gap financing: $896/mo
$491less per month with the assumable
Your Savings on This Property
20762 44th, Denver · 3.02% FHA vs 6.5% conventional
$491
per month
$5,896
per year
$176,893
over 30 years
$176,892
interest saved
How gap financing works: The equity gap ($139,052) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($116,557 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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