Loan Comparison: 3.98% vs 6.5%
2246 Coronado parkway, Denver, CO 80229 · 2bd/1ba · $295,000
List Price
$295,000
Assumable Rate
3.98%
Remaining Balance
$95,412
Equity Gap
$199,587
Loan Type
FHAAdjust Your Scenario
$14,750
$14,750$199,587
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.98% (FHA)
Blended Rate: 6.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 3.98% + gap loan
$1,876/moAssumed loan: $454/mo
Gap financing: $1,421/mo
Your Savings on This Property
2246 Coronado parkway, Denver · 3.98% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($199,587) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($184,837 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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