Loan Comparison: 3.62% vs 6.5%
2083 Xenia, Denver, CO 80231 · 3bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3.62%
Remaining Balance
$293,672
Equity Gap
$136,963
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$136,963
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.62% + gap loan
$2,226/moAssumed loan: $1,338/mo
Gap financing: $888/mo
$356less per month with the assumable
Your Savings on This Property
2083 Xenia, Denver · 3.62% FHA vs 6.5% conventional
$356
per month
$4,269
per year
$128,059
over 30 years
$128,694
interest saved
How gap financing works: The equity gap ($136,963) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($115,463 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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