Loan Comparison: 3.62% vs 6.5%
2083 Xenia, Denver, CO 80231 · 3bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.62%
Remaining Balance
$293,037
Equity Gap
$121,963
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$121,963
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.62% + gap loan
$2,114/moAssumed loan: $1,336/mo
Gap financing: $778/mo
$378less per month with the assumable
Your Savings on This Property
2083 Xenia, Denver · 3.62% FHA vs 6.5% conventional
$378
per month
$4,537
per year
$136,121
over 30 years
$136,121
interest saved
How gap financing works: The equity gap ($121,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($101,213 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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