Loan Comparison: 3.07% vs 6.5%
5188 Netherland, Denver, CO 80249 · 5bd/3ba · $725,000
List Price
$725,000
Assumable Rate
3.07%
Remaining Balance
$404,483
Equity Gap
$317,959
Loan Type
FHAAdjust Your Scenario
$36,250
$36,250$317,959
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 3.07% + gap loan
$3,887/moAssumed loan: $1,721/mo
Gap financing: $2,166/mo
$467less per month with the assumable
Your Savings on This Property
5188 Netherland, Denver · 3.07% FHA vs 6.5% conventional
$467
per month
$5,600
per year
$167,992
over 30 years
$165,434
interest saved
How gap financing works: The equity gap ($317,959) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($281,709 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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