Loan Comparison: 3.91% vs 6.5%
4100 Albion, Denver, CO 80216 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
3.91%
Remaining Balance
$146,317
Equity Gap
$153,682
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$153,682
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.91% + gap loan
$1,757/moAssumed loan: $691/mo
Gap financing: $1,066/mo
$44less per month with the assumable
Your Savings on This Property
4100 Albion, Denver · 3.91% FHA vs 6.5% conventional
$44
per month
$529
per year
$15,869
over 30 years
$15,868
interest saved
How gap financing works: The equity gap ($153,682) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($138,682 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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