Loan Comparison: 2.77% vs 6.5%
2 Adams, Denver, CO 80206 · 1bd/1ba · $300,000
List Price
$300,000
Assumable Rate
2.77%
Remaining Balance
$249,215
Equity Gap
$51,940
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$51,940
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 2.77% + gap loan
$1,304/moAssumed loan: $1,020/mo
Gap financing: $284/mo
$497less per month with the assumable
Your Savings on This Property
2 Adams, Denver · 2.77% FHA vs 6.5% conventional
$497
per month
$5,968
per year
$179,034
over 30 years
$180,189
interest saved
How gap financing works: The equity gap ($51,940) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($36,940 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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