Loan Comparison: 3.07% vs 6.5%
400 Fremont, Centennial, CO 80122 · 2bd/2ba · $374,000
List Price
$374,000
Assumable Rate
3.07%
Remaining Balance
$321,864
Equity Gap
$52,136
Loan Type
FHAAdjust Your Scenario
$18,700
$18,700$52,136
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,246/moAssumable @ 3.07% + gap loan
$1,626/moAssumed loan: $1,369/mo
Gap financing: $257/mo
$619less per month with the assumable
Your Savings on This Property
400 Fremont, Centennial · 3.07% FHA vs 6.5% conventional
$619
per month
$7,434
per year
$223,009
over 30 years
$223,009
interest saved
How gap financing works: The equity gap ($52,136) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,700, 5% of purchase price) and a second mortgage for the rest ($33,436 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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