Loan Comparison: 2.94% vs 6.5%
572 Newton, Denver, CO 80219 · 2bd/2ba · $399,000
List Price
$399,000
Assumable Rate
2.94%
Remaining Balance
$291,780
Equity Gap
$122,492
Loan Type
FHAAdjust Your Scenario
$19,950
$19,950$122,492
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 2.94% + gap loan
$2,009/moAssumed loan: $1,221/mo
Gap financing: $788/mo
$387less per month with the assumable
Your Savings on This Property
572 Newton, Denver · 2.94% FHA vs 6.5% conventional
$387
per month
$4,640
per year
$139,198
over 30 years
$154,470
interest saved
How gap financing works: The equity gap ($122,492) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($102,542 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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