Loan Comparison: 3.23% vs 6.5%
1750 Aspen Meadows, Denver, CO 80260 · 2bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.23%
Remaining Balance
$278,710
Equity Gap
$121,290
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$121,290
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.23% + gap loan
$1,989/moAssumed loan: $1,210/mo
Gap financing: $779/mo
$413less per month with the assumable
Your Savings on This Property
1750 Aspen Meadows, Denver · 3.23% FHA vs 6.5% conventional
$413
per month
$4,957
per year
$148,723
over 30 years
$148,723
interest saved
How gap financing works: The equity gap ($121,290) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($101,290 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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