Loan Comparison: 3.02% vs 6.5%
19001 55Th, Denver, CO 80249 · 3bd/3ba · $534,900
List Price
$534,900
Assumable Rate
3.02%
Remaining Balance
$380,723
Equity Gap
$159,292
Loan Type
FHAAdjust Your Scenario
$26,745
$26,745$159,292
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.02% + gap loan
$2,628/moAssumed loan: $1,609/mo
Gap financing: $1,019/mo
$583less per month with the assumable
Your Savings on This Property
19001 55Th, Denver · 3.02% FHA vs 6.5% conventional
$583
per month
$7,002
per year
$210,046
over 30 years
$215,161
interest saved
How gap financing works: The equity gap ($159,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,745, 5% of purchase price) and a second mortgage for the rest ($132,547 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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