Loan Comparison: 3.23% vs 6.5%
3168 Holly, Denver, CO 80222 · 3bd/2ba · $584,900
List Price
$584,900
Assumable Rate
3.23%
Remaining Balance
$390,221
Equity Gap
$194,679
Loan Type
FHAAdjust Your Scenario
$29,245
$29,245$194,679
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,512/moAssumable @ 3.23% + gap loan
$2,966/moAssumed loan: $1,694/mo
Gap financing: $1,272/mo
$546less per month with the assumable
Your Savings on This Property
3168 Holly, Denver · 3.23% FHA vs 6.5% conventional
$546
per month
$6,553
per year
$196,591
over 30 years
$196,591
interest saved
How gap financing works: The equity gap ($194,679) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,245, 5% of purchase price) and a second mortgage for the rest ($165,434 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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