Loan Comparison: 3.08% vs 6.5%
255 Zuni, Denver, CO 80223 · 3bd/1ba · $465,000
List Price
$465,000
Assumable Rate
3.08%
Remaining Balance
$391,605
Equity Gap
$72,541
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$72,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.08% + gap loan
$2,047/moAssumed loan: $1,668/mo
Gap financing: $379/mo
$745less per month with the assumable
Your Savings on This Property
255 Zuni, Denver · 3.08% FHA vs 6.5% conventional
$745
per month
$8,942
per year
$268,268
over 30 years
$267,414
interest saved
How gap financing works: The equity gap ($72,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($49,291 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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