Loan Comparison: 2.81% vs 6.5%
15686 Randolph, Denver, CO 80239 · 3bd/2ba · $439,000
List Price
$439,000
Assumable Rate
2.81%
Remaining Balance
$336,450
Equity Gap
$102,550
Loan Type
FHAAdjust Your Scenario
$21,950
$21,950$102,550
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,636/moAssumable @ 2.81% + gap loan
$2,004/moAssumed loan: $1,384/mo
Gap financing: $620/mo
$632less per month with the assumable
Your Savings on This Property
15686 Randolph, Denver · 2.81% FHA vs 6.5% conventional
$632
per month
$7,585
per year
$227,539
over 30 years
$227,539
interest saved
How gap financing works: The equity gap ($102,550) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,950, 5% of purchase price) and a second mortgage for the rest ($80,600 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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