Loan Comparison: 3.45% vs 6.5%
188 Dale, Denver, CO 80219 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
3.45%
Remaining Balance
$263,749
Equity Gap
$164,007
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$164,007
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.45% + gap loan
$2,296/moAssumed loan: $1,177/mo
Gap financing: $1,119/mo
Your Savings on This Property
188 Dale, Denver · 3.45% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$31,078
interest saved
How gap financing works: The equity gap ($164,007) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($145,507 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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