Loan Comparison: 3.45% vs 6.5%
422 6th, Denver, CO 80203 · 2bd/1ba · $410,000
List Price
$410,000
Assumable Rate
3.45%
Remaining Balance
$359,995
Equity Gap
$49,289
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$49,289
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.45% + gap loan
$1,828/moAssumed loan: $1,607/mo
Gap financing: $221/mo
$634less per month with the assumable
Your Savings on This Property
422 6th, Denver · 3.45% FHA vs 6.5% conventional
$634
per month
$7,608
per year
$228,253
over 30 years
$227,537
interest saved
How gap financing works: The equity gap ($49,289) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($28,789 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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