Loan Comparison: 3.87% vs 6.5%
1233 Ogden, Denver, CO 80218 · 1bd/1ba · $225,000
List Price
$225,000
Assumable Rate
3.87%
Remaining Balance
$137,067
Equity Gap
$87,932
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$87,932
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.87% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 3.87% + gap loan
$1,234/moAssumed loan: $644/mo
Gap financing: $590/mo
$117less per month with the assumable
Your Savings on This Property
1233 Ogden, Denver · 3.87% FHA vs 6.5% conventional
$117
per month
$1,407
per year
$42,221
over 30 years
$42,220
interest saved
How gap financing works: The equity gap ($87,932) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($76,682 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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