Loan Comparison: 3.07% vs 6.5%
1840 Sherrelwood, Denver, CO 80221 · 5bd/2ba · $509,900
List Price
$509,900
Assumable Rate
3.07%
Remaining Balance
$416,218
Equity Gap
$93,682
Loan Type
FHAAdjust Your Scenario
$25,495
$25,495$93,682
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.07% + gap loan
$2,295/moAssumed loan: $1,771/mo
Gap financing: $524/mo
$767less per month with the assumable
Your Savings on This Property
1840 Sherrelwood, Denver · 3.07% FHA vs 6.5% conventional
$767
per month
$9,203
per year
$276,093
over 30 years
$276,093
interest saved
How gap financing works: The equity gap ($93,682) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,495, 5% of purchase price) and a second mortgage for the rest ($68,187 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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