Loan Comparison: 2.84% vs 6.5%
703 Oneida, Denver, CO 80224 · 4bd/3ba · $889,000
List Price
$889,000
Assumable Rate
2.84%
Remaining Balance
$250,703
Equity Gap
$637,193
Loan Type
FHAAdjust Your Scenario
$44,450
$44,450$637,193
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 6.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,338/moAssumable @ 2.84% + gap loan
$5,593/moAssumed loan: $1,035/mo
Gap financing: $4,558/mo
Your Savings on This Property
703 Oneida, Denver · 2.84% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($637,193) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,450, 5% of purchase price) and a second mortgage for the rest ($592,743 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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