Loan Comparison: 2.68% vs 6.5%
5888 Biscay, Denver, CO 80249 · 3bd/2ba · $344,000
List Price
$344,000
Assumable Rate
2.68%
Remaining Balance
$251,067
Equity Gap
$91,167
Loan Type
FHAAdjust Your Scenario
$17,200
$17,200$91,167
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,066/moAssumable @ 2.68% + gap loan
$1,584/moAssumed loan: $1,016/mo
Gap financing: $569/mo
$481less per month with the assumable
Your Savings on This Property
5888 Biscay, Denver · 2.68% FHA vs 6.5% conventional
$481
per month
$5,774
per year
$173,226
over 30 years
$171,460
interest saved
How gap financing works: The equity gap ($91,167) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,200, 5% of purchase price) and a second mortgage for the rest ($73,967 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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