Loan Comparison: 2.74% vs 6.5%
3550 Harlan, Denver, CO 80235 · 2bd/1ba · $225,000
List Price
$225,000
Assumable Rate
2.74%
Remaining Balance
$198,512
Equity Gap
$26,488
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$26,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 3.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 2.74% + gap loan
$927/moAssumed loan: $809/mo
Gap financing: $117/mo
$425less per month with the assumable
Your Savings on This Property
3550 Harlan, Denver · 2.74% FHA vs 6.5% conventional
$425
per month
$5,094
per year
$152,828
over 30 years
$152,828
interest saved
How gap financing works: The equity gap ($26,488) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($15,238 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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