Loan Comparison: 3.07% vs 6.5%
5188 Netherland, Denver, CO 80249 · 5bd/3ba · $785,000
List Price
$785,000
Assumable Rate
3.07%
Remaining Balance
$405,338
Equity Gap
$379,662
Loan Type
FHAAdjust Your Scenario
$39,250
$39,250$379,662
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,714/moAssumable @ 3.07% + gap loan
$4,342/moAssumed loan: $1,724/mo
Gap financing: $2,617/mo
$372less per month with the assumable
Your Savings on This Property
5188 Netherland, Denver · 3.07% FHA vs 6.5% conventional
$372
per month
$4,463
per year
$133,888
over 30 years
$133,888
interest saved
How gap financing works: The equity gap ($379,662) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,250, 5% of purchase price) and a second mortgage for the rest ($340,412 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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