Loan Comparison: 3.91% vs 6.5%
1301 Speer, Denver, CO 80204 · 1bd/1ba · $223,900
List Price
$223,900
Assumable Rate
3.91%
Remaining Balance
$100,634
Equity Gap
$123,266
Loan Type
FHAAdjust Your Scenario
$11,195
$11,195$123,266
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,344/moAssumable @ 3.91% + gap loan
$1,337/moAssumed loan: $475/mo
Gap financing: $862/mo
$7less per month with the assumable
Your Savings on This Property
1301 Speer, Denver · 3.91% FHA vs 6.5% conventional
$7
per month
$90
per year
$2,691
over 30 years
$2,691
interest saved
How gap financing works: The equity gap ($123,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,195, 5% of purchase price) and a second mortgage for the rest ($112,071 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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