Loan Comparison: 3.02% vs 6.5%
18619 50th, Denver, CO 80249 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.02%
Remaining Balance
$310,556
Equity Gap
$139,443
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$139,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.02% + gap loan
$2,212/moAssumed loan: $1,313/mo
Gap financing: $899/mo
$490less per month with the assumable
Your Savings on This Property
18619 50th, Denver · 3.02% FHA vs 6.5% conventional
$490
per month
$5,883
per year
$176,483
over 30 years
$176,482
interest saved
How gap financing works: The equity gap ($139,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($116,943 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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