Loan Comparison: 3.92% vs 6.5%
9155 Center, Denver, CO 80247 · 2bd/1ba · $204,900
List Price
$204,900
Assumable Rate
3.92%
Remaining Balance
$105,098
Equity Gap
$99,802
Loan Type
FHAAdjust Your Scenario
$10,245
$10,245$99,802
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.92% (FHA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,230/moAssumable @ 3.92% + gap loan
$1,186/moAssumed loan: $497/mo
Gap financing: $689/mo
$45less per month with the assumable
Your Savings on This Property
9155 Center, Denver · 3.92% FHA vs 6.5% conventional
$45
per month
$538
per year
$16,134
over 30 years
$16,134
interest saved
How gap financing works: The equity gap ($99,802) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,245, 5% of purchase price) and a second mortgage for the rest ($89,557 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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