Loan Comparison: 3.47% vs 6.5%
4609 Fontana, Denver, CO 80239 · 3bd/2ba · $420,000
List Price
$420,000
Assumable Rate
3.47%
Remaining Balance
$289,482
Equity Gap
$130,518
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$130,518
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.47% + gap loan
$2,137/moAssumed loan: $1,295/mo
Gap financing: $842/mo
$385less per month with the assumable
Your Savings on This Property
4609 Fontana, Denver · 3.47% FHA vs 6.5% conventional
$385
per month
$4,618
per year
$138,525
over 30 years
$138,525
interest saved
How gap financing works: The equity gap ($130,518) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($109,518 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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