Loan Comparison: 3.23% vs 6.5%
1750 Aspen Meadows, Denver, CO 80260 · 2bd/3ba · $388,000
List Price
$388,000
Assumable Rate
3.23%
Remaining Balance
$277,456
Equity Gap
$109,290
Loan Type
FHAAdjust Your Scenario
$19,400
$19,400$109,290
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,330/moAssumable @ 3.23% + gap loan
$1,896/moAssumed loan: $1,204/mo
Gap financing: $691/mo
$434less per month with the assumable
Your Savings on This Property
1750 Aspen Meadows, Denver · 3.23% FHA vs 6.5% conventional
$434
per month
$5,210
per year
$156,299
over 30 years
$155,045
interest saved
How gap financing works: The equity gap ($109,290) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,400, 5% of purchase price) and a second mortgage for the rest ($89,890 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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