Loan Comparison: 3.23% vs 6.5%
3168 Holly, Denver, CO 80222 · 3bd/2ba · $574,900
List Price
$574,900
Assumable Rate
3.23%
Remaining Balance
$389,344
Equity Gap
$185,556
Loan Type
FHAAdjust Your Scenario
$28,745
$28,745$185,556
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,452/moAssumable @ 3.23% + gap loan
$2,896/moAssumed loan: $1,690/mo
Gap financing: $1,206/mo
$556less per month with the assumable
Your Savings on This Property
3168 Holly, Denver · 3.23% FHA vs 6.5% conventional
$556
per month
$6,674
per year
$200,214
over 30 years
$200,214
interest saved
How gap financing works: The equity gap ($185,556) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,745, 5% of purchase price) and a second mortgage for the rest ($156,811 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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