Loan Comparison: 2.74% vs 6.5%
3550 Harlan, Denver, CO 80235 · 2bd/1ba · $220,000
List Price
$220,000
Assumable Rate
2.74%
Remaining Balance
$197,588
Equity Gap
$22,412
Loan Type
FHAAdjust Your Scenario
$11,000
$11,000$22,412
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 3.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,321/moAssumable @ 2.74% + gap loan
$893/moAssumed loan: $806/mo
Gap financing: $88/mo
$428less per month with the assumable
Your Savings on This Property
3550 Harlan, Denver · 2.74% FHA vs 6.5% conventional
$428
per month
$5,132
per year
$153,966
over 30 years
$153,966
interest saved
How gap financing works: The equity gap ($22,412) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,000, 5% of purchase price) and a second mortgage for the rest ($11,412 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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