Loan Comparison: 4.74% vs 6.5%
800 Pearl, Denver, CO 80203 · 2bd/2ba · $360,000
List Price
$360,000
Assumable Rate
4.74%
Remaining Balance
$120,477
Equity Gap
$240,475
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$240,475
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.74% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 4.74% + gap loan
$2,338/moAssumed loan: $628/mo
Gap financing: $1,711/mo
Your Savings on This Property
800 Pearl, Denver · 4.74% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($240,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($222,475 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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