Loan Comparison: 2.96% vs 6.5%
3385 White Oak, Highlands Ranch, CO 80129 · 3bd/3ba · $875,000
List Price
$875,000
Assumable Rate
2.96%
Remaining Balance
$451,699
Equity Gap
$422,317
Loan Type
FHAAdjust Your Scenario
$43,750
$43,750$422,317
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.96% + gap loan
$4,806/moAssumed loan: $1,895/mo
Gap financing: $2,911/mo
$449less per month with the assumable
Your Savings on This Property
3385 White Oak, Highlands Ranch · 2.96% FHA vs 6.5% conventional
$449
per month
$5,383
per year
$161,482
over 30 years
$160,498
interest saved
How gap financing works: The equity gap ($422,317) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($378,567 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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