Loan Comparison: 3.02% vs 6.5%
3969 Inca, Denver, CO 80211 · 2bd/3ba · $579,900
List Price
$579,900
Assumable Rate
3.02%
Remaining Balance
$437,549
Equity Gap
$142,350
Loan Type
FHAAdjust Your Scenario
$28,995
$28,995$142,350
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,482/moAssumable @ 3.02% + gap loan
$2,721/moAssumed loan: $1,849/mo
Gap financing: $872/mo
$761less per month with the assumable
Your Savings on This Property
3969 Inca, Denver · 3.02% FHA vs 6.5% conventional
$761
per month
$9,133
per year
$273,976
over 30 years
$273,975
interest saved
How gap financing works: The equity gap ($142,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,995, 5% of purchase price) and a second mortgage for the rest ($113,355 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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