Loan Comparison: 2.96% vs 6.5%
3385 White Oak, Highlands Ranch, CO 80129 · 3bd/3ba · $825,000
List Price
$825,000
Assumable Rate
2.96%
Remaining Balance
$448,735
Equity Gap
$372,317
Loan Type
FHAAdjust Your Scenario
$41,250
$41,250$372,317
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,954/moAssumable @ 2.96% + gap loan
$4,428/moAssumed loan: $1,882/mo
Gap financing: $2,546/mo
$526less per month with the assumable
Your Savings on This Property
3385 White Oak, Highlands Ranch · 2.96% FHA vs 6.5% conventional
$526
per month
$6,312
per year
$189,359
over 30 years
$185,411
interest saved
How gap financing works: The equity gap ($372,317) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,250, 5% of purchase price) and a second mortgage for the rest ($331,067 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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