Loan Comparison: 4.01% vs 6.5%
3290 Lowell, Denver, CO 80236 · 4bd/3ba · $625,000
List Price
$625,000
Assumable Rate
4.01%
Remaining Balance
$296,220
Equity Gap
$328,779
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$328,779
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.01% (FHA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 4.01% + gap loan
$3,704/moAssumed loan: $1,416/mo
Gap financing: $2,288/mo
$49less per month with the assumable
Your Savings on This Property
3290 Lowell, Denver · 4.01% FHA vs 6.5% conventional
$49
per month
$591
per year
$17,732
over 30 years
$17,731
interest saved
How gap financing works: The equity gap ($328,779) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($297,529 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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