Loan Comparison: 4.98% vs 6.5%
2704 Zurich, Denver, CO 80236 · 6bd/3ba · $630,000
List Price
$630,000
Assumable Rate
4.98%
Remaining Balance
$467,218
Equity Gap
$162,781
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$162,781
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 4.98% + gap loan
$3,512/moAssumed loan: $2,502/mo
Gap financing: $1,009/mo
$271less per month with the assumable
Your Savings on This Property
2704 Zurich, Denver · 4.98% FHA vs 6.5% conventional
$271
per month
$3,253
per year
$97,585
over 30 years
$97,584
interest saved
How gap financing works: The equity gap ($162,781) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($131,281 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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