Loan Comparison: 3.31% vs 6.5%
11129 York, Northglenn, CO 80233 · 3bd/3ba · $429,900
List Price
$429,900
Assumable Rate
3.31%
Remaining Balance
$292,713
Equity Gap
$137,187
Loan Type
FHAAdjust Your Scenario
$21,495
$21,495$137,187
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,581/moAssumable @ 3.31% + gap loan
$2,173/moAssumed loan: $1,284/mo
Gap financing: $890/mo
$408less per month with the assumable
Your Savings on This Property
11129 York, Northglenn · 3.31% FHA vs 6.5% conventional
$408
per month
$4,899
per year
$146,974
over 30 years
$146,974
interest saved
How gap financing works: The equity gap ($137,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,495, 5% of purchase price) and a second mortgage for the rest ($115,692 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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