Loan Comparison: 3.76% vs 6.5%
2469 Devonshire, Denver, CO 80229 · 2bd/1ba · $299,900
List Price
$299,900
Assumable Rate
3.76%
Remaining Balance
$267,476
Equity Gap
$32,424
Loan Type
FHAAdjust Your Scenario
$14,995
$14,995$32,424
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.76% + gap loan
$1,374/moAssumed loan: $1,240/mo
Gap financing: $134/mo
$427less per month with the assumable
Your Savings on This Property
2469 Devonshire, Denver · 3.76% FHA vs 6.5% conventional
$427
per month
$5,118
per year
$153,554
over 30 years
$153,554
interest saved
How gap financing works: The equity gap ($32,424) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,995, 5% of purchase price) and a second mortgage for the rest ($17,429 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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