Loan Comparison: 4.98% vs 6.5%
2704 Zurich, Denver, CO 80236 · 6bd/3ba · $655,000
List Price
$655,000
Assumable Rate
4.98%
Remaining Balance
$465,780
Equity Gap
$186,355
Loan Type
FHAAdjust Your Scenario
$32,750
$32,750$186,355
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,933/moAssumable @ 4.98% + gap loan
$3,676/moAssumed loan: $2,495/mo
Gap financing: $1,181/mo
$257less per month with the assumable
Your Savings on This Property
2704 Zurich, Denver · 4.98% FHA vs 6.5% conventional
$257
per month
$3,087
per year
$92,605
over 30 years
$89,740
interest saved
How gap financing works: The equity gap ($186,355) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,750, 5% of purchase price) and a second mortgage for the rest ($153,605 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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