Loan Comparison: 3.77% vs 6.5%
1985 Hazel, Denver, CO 80219 · 4bd/2ba · $495,000
List Price
$495,000
Assumable Rate
3.77%
Remaining Balance
$305,660
Equity Gap
$189,340
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$189,340
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.77% + gap loan
$2,685/moAssumed loan: $1,419/mo
Gap financing: $1,266/mo
$288less per month with the assumable
Your Savings on This Property
1985 Hazel, Denver · 3.77% FHA vs 6.5% conventional
$288
per month
$3,453
per year
$103,577
over 30 years
$103,577
interest saved
How gap financing works: The equity gap ($189,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($164,590 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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