Loan Comparison: 3.23% vs 6.5%
1750 Aspen Meadows, Denver, CO 80260 · 2bd/3ba · $398,000
List Price
$398,000
Assumable Rate
3.23%
Remaining Balance
$278,084
Equity Gap
$119,916
Loan Type
FHAAdjust Your Scenario
$19,900
$19,900$119,916
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 3.23% + gap loan
$1,976/moAssumed loan: $1,207/mo
Gap financing: $769/mo
$414less per month with the assumable
Your Savings on This Property
1750 Aspen Meadows, Denver · 3.23% FHA vs 6.5% conventional
$414
per month
$4,963
per year
$148,905
over 30 years
$148,905
interest saved
How gap financing works: The equity gap ($119,916) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($100,016 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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