Loan Comparison: 3.61% vs 6.5%
15600 Bolling, Denver, CO 80239 · 4bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.61%
Remaining Balance
$321,180
Equity Gap
$162,392
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$162,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.61% + gap loan
$2,524/moAssumed loan: $1,462/mo
Gap financing: $1,062/mo
$388less per month with the assumable
Your Savings on This Property
15600 Bolling, Denver · 3.61% FHA vs 6.5% conventional
$388
per month
$4,656
per year
$139,689
over 30 years
$138,261
interest saved
How gap financing works: The equity gap ($162,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($138,142 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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