Loan Comparison: 2.72% vs 6.5%
4785 Kittredge, Denver, CO 80239 · 3bd/3ba · $515,000
List Price
$515,000
Assumable Rate
2.72%
Remaining Balance
$340,365
Equity Gap
$174,635
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$174,635
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.72% (FHA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.72% + gap loan
$2,529/moAssumed loan: $1,384/mo
Gap financing: $1,145/mo
$563less per month with the assumable
Your Savings on This Property
4785 Kittredge, Denver · 2.72% FHA vs 6.5% conventional
$563
per month
$6,762
per year
$202,856
over 30 years
$202,856
interest saved
How gap financing works: The equity gap ($174,635) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($148,885 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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