Loan Comparison: 2.83% vs 6.5%
1141 Raleigh, Denver, CO 80219 · 2bd/1ba · $435,000
List Price
$435,000
Assumable Rate
2.83%
Remaining Balance
$285,839
Equity Gap
$153,050
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$153,050
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.83% + gap loan
$2,189/moAssumed loan: $1,179/mo
Gap financing: $1,010/mo
$423less per month with the assumable
Your Savings on This Property
1141 Raleigh, Denver · 2.83% FHA vs 6.5% conventional
$423
per month
$5,081
per year
$152,416
over 30 years
$156,305
interest saved
How gap financing works: The equity gap ($153,050) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($131,300 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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