Loan Comparison: 3.92% vs 6.5%
9155 Center, Denver, CO 80247 · 2bd/1ba · $219,900
List Price
$219,900
Assumable Rate
3.92%
Remaining Balance
$105,860
Equity Gap
$114,293
Loan Type
FHAAdjust Your Scenario
$10,995
$10,995$114,293
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.92% (FHA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,320/moAssumable @ 3.92% + gap loan
$1,295/moAssumed loan: $501/mo
Gap financing: $794/mo
$26less per month with the assumable
Your Savings on This Property
9155 Center, Denver · 3.92% FHA vs 6.5% conventional
$26
per month
$308
per year
$9,226
over 30 years
$9,479
interest saved
How gap financing works: The equity gap ($114,293) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,995, 5% of purchase price) and a second mortgage for the rest ($103,298 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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