Loan Comparison: 2.87% vs 6.5%
5027 Andes, Denver, CO 80249 · 4bd/3ba · $459,999
List Price
$459,999
Assumable Rate
2.87%
Remaining Balance
$279,905
Equity Gap
$178,855
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$178,855
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.87% + gap loan
$2,359/moAssumed loan: $1,161/mo
Gap financing: $1,198/mo
$403less per month with the assumable
Your Savings on This Property
5027 Andes, Denver · 2.87% FHA vs 6.5% conventional
$403
per month
$4,838
per year
$145,146
over 30 years
$143,907
interest saved
How gap financing works: The equity gap ($178,855) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($155,855 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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