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
$470,962
Equity Gap
$428,038
Loan Type
FHAAdjust Your Scenario
$44,950
$44,950$428,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,398/moAssumable @ 3.62% + gap loan
$5,092/moAssumed loan: $2,147/mo
Gap financing: $2,946/mo
$306less per month with the assumable
Your Savings on This Property
1543 University, Denver · 3.62% FHA vs 6.5% conventional
$306
per month
$3,673
per year
$110,181
over 30 years
$110,181
interest saved
How gap financing works: The equity gap ($428,038) 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 ($383,088 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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