Loan Comparison: 3.62% vs 6.5%
1543 University, Denver, CO 80210 · 4bd/2ba · $899,000
List Price
$899,000
Assumable Rate
3.62%
Remaining Balance
$468,922
Equity Gap
$430,077
Loan Type
FHAAdjust Your Scenario
$44,950
$44,950$430,077
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,398/moAssumable @ 3.62% + gap loan
$5,098/moAssumed loan: $2,137/mo
Gap financing: $2,961/mo
$300less per month with the assumable
Your Savings on This Property
1543 University, Denver · 3.62% FHA vs 6.5% conventional
$300
per month
$3,596
per year
$107,884
over 30 years
$107,883
interest saved
How gap financing works: The equity gap ($430,077) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,950, 5% of purchase price) and a second mortgage for the rest ($385,127 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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