Loan Comparison: 2.81% vs 6.5%
9155 Center, Denver, CO 80247 · 2bd/2ba · $210,000
List Price
$210,000
Assumable Rate
2.81%
Remaining Balance
$126,399
Equity Gap
$83,600
Loan Type
FHAAdjust Your Scenario
$10,500
$10,500$83,600
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 2.81% + gap loan
$1,082/moAssumed loan: $520/mo
Gap financing: $562/mo
$179less per month with the assumable
Your Savings on This Property
9155 Center, Denver · 2.81% FHA vs 6.5% conventional
$179
per month
$2,146
per year
$64,390
over 30 years
$64,389
interest saved
How gap financing works: The equity gap ($83,600) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($73,100 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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