Loan Comparison: 4.23% vs 6.5%
4320 Benton, Denver, CO 80212 · 3bd/2ba · $499,000
List Price
$499,000
Assumable Rate
4.23%
Remaining Balance
$96,235
Equity Gap
$401,995
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$401,995
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.23% (FHA)
Blended Rate: 7.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 4.23% + gap loan
$3,371/moAssumed loan: $472/mo
Gap financing: $2,899/mo
Your Savings on This Property
4320 Benton, Denver · 4.23% 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 ($401,995) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($377,045 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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