Loan Comparison: 4.5% vs 6.5%
2143 Coronado, Denver, CO 80229 · 2bd/2ba · $294,900
List Price
$294,900
Assumable Rate
4.5%
Remaining Balance
$281,903
Equity Gap
$16,837
Loan Type
FHAAdjust Your Scenario
$14,745
$14,745$16,837
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.5% (FHA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 4.5% + gap loan
$1,444/moAssumed loan: $1,428/mo
Gap financing: $16/mo
$326less per month with the assumable
Your Savings on This Property
2143 Coronado, Denver · 4.5% FHA vs 6.5% conventional
$326
per month
$3,916
per year
$117,476
over 30 years
$121,316
interest saved
How gap financing works: The equity gap ($16,837) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,745, 5% of purchase price) and a second mortgage for the rest ($2,092 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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