Loan Comparison: 3.45% vs 6.5%
1111 Ash, Denver, CO 80220 · 1bd/2ba · $240,000
List Price
$240,000
Assumable Rate
3.45%
Remaining Balance
$105,450
Equity Gap
$134,549
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$134,549
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.45% + gap loan
$1,413/moAssumed loan: $471/mo
Gap financing: $942/mo
$28less per month with the assumable
Your Savings on This Property
1111 Ash, Denver · 3.45% FHA vs 6.5% conventional
$28
per month
$339
per year
$10,166
over 30 years
$10,165
interest saved
How gap financing works: The equity gap ($134,549) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($122,549 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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