Loan Comparison: 3.02% vs 6.5%
19001 55Th, Denver, CO 80249 · 3bd/3ba · $524,900
List Price
$524,900
Assumable Rate
3.02%
Remaining Balance
$374,747
Equity Gap
$149,292
Loan Type
FHAAdjust Your Scenario
$26,245
$26,245$149,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.02% + gap loan
$2,530/moAssumed loan: $1,584/mo
Gap financing: $946/mo
$622less per month with the assumable
Your Savings on This Property
19001 55Th, Denver · 3.02% FHA vs 6.5% conventional
$622
per month
$7,461
per year
$223,819
over 30 years
$222,958
interest saved
How gap financing works: The equity gap ($149,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,245, 5% of purchase price) and a second mortgage for the rest ($123,047 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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