Loan Comparison: 2.9% vs 6.5%
5540 Valentia, Denver, CO 80238 · 3bd/4ba · $635,000
List Price
$635,000
Assumable Rate
2.9%
Remaining Balance
$588,502
Equity Gap
$46,498
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$46,498
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.9% + gap loan
$2,563/moAssumed loan: $2,450/mo
Gap financing: $113/mo
$1,250less per month with the assumable
Your Savings on This Property
5540 Valentia, Denver · 2.9% FHA vs 6.5% conventional
$1,250
per month
$15,000
per year
$450,011
over 30 years
$450,011
interest saved
How gap financing works: The equity gap ($46,498) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($14,748 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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