Loan Comparison: 2.9% vs 6.5%
8853 55th, Denver, CO 80238 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.9%
Remaining Balance
$304,122
Equity Gap
$227,194
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$227,194
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.9% + gap loan
$2,809/moAssumed loan: $1,266/mo
Gap financing: $1,543/mo
$373less per month with the assumable
Your Savings on This Property
8853 55th, Denver · 2.9% FHA vs 6.5% conventional
$373
per month
$4,481
per year
$134,443
over 30 years
$135,759
interest saved
How gap financing works: The equity gap ($227,194) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($200,694 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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