Loan Comparison: 2.87% vs 6.5%
2700 Holly, Denver, CO 80222 · 2bd/1ba · $184,000
List Price
$184,000
Assumable Rate
2.87%
Remaining Balance
$147,856
Equity Gap
$35,159
Loan Type
FHAAdjust Your Scenario
$9,200
$9,200$35,159
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,105/moAssumable @ 2.87% + gap loan
$813/moAssumed loan: $613/mo
Gap financing: $200/mo
$292less per month with the assumable
Your Savings on This Property
2700 Holly, Denver · 2.87% FHA vs 6.5% conventional
$292
per month
$3,506
per year
$105,194
over 30 years
$104,209
interest saved
How gap financing works: The equity gap ($35,159) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,200, 5% of purchase price) and a second mortgage for the rest ($25,959 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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