Loan Comparison: 3.69% vs 6.5%
3734 King, Denver, CO 80236 · 1bd/1ba · $390,000
List Price
$390,000
Assumable Rate
3.69%
Remaining Balance
$185,234
Equity Gap
$204,766
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$204,766
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.69% + gap loan
$2,276/moAssumed loan: $852/mo
Gap financing: $1,425/mo
$66less per month with the assumable
Your Savings on This Property
3734 King, Denver · 3.69% FHA vs 6.5% conventional
$66
per month
$789
per year
$23,660
over 30 years
$23,660
interest saved
How gap financing works: The equity gap ($204,766) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($185,266 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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