Loan Comparison: 2.87% vs 6.5%
5027 Andes, Denver, CO 80249 · 4bd/3ba · $479,999
List Price
$479,999
Assumable Rate
2.87%
Remaining Balance
$280,525
Equity Gap
$199,474
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$199,474
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 2.87% + gap loan
$2,512/moAssumed loan: $1,163/mo
Gap financing: $1,349/mo
$370less per month with the assumable
Your Savings on This Property
5027 Andes, Denver · 2.87% FHA vs 6.5% conventional
$370
per month
$4,438
per year
$133,147
over 30 years
$133,147
interest saved
How gap financing works: The equity gap ($199,474) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($175,474 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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