Loan Comparison: 2.74% vs 6.5%
8873 29th, Denver, CO 80238 · 4bd/4ba · $775,000
List Price
$775,000
Assumable Rate
2.74%
Remaining Balance
$458,651
Equity Gap
$316,349
Loan Type
FHAAdjust Your Scenario
$38,750
$38,750$316,349
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 2.74% + gap loan
$4,004/moAssumed loan: $1,870/mo
Gap financing: $2,134/mo
$649less per month with the assumable
Your Savings on This Property
8873 29th, Denver · 2.74% FHA vs 6.5% conventional
$649
per month
$7,790
per year
$233,687
over 30 years
$233,687
interest saved
How gap financing works: The equity gap ($316,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($277,599 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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