Loan Comparison: 2.9% vs 6.5%
5540 Valentia, Denver, CO 80238 · 3bd/4ba · $650,000
List Price
$650,000
Assumable Rate
2.9%
Remaining Balance
$605,409
Equity Gap
$57,666
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$57,666
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.9% + gap loan
$2,713/moAssumed loan: $2,520/mo
Gap financing: $194/mo
$1,190less per month with the assumable
Your Savings on This Property
5540 Valentia, Denver · 2.9% FHA vs 6.5% conventional
$1,190
per month
$14,275
per year
$428,264
over 30 years
$441,339
interest saved
How gap financing works: The equity gap ($57,666) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($25,166 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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