Loan Comparison: 3.41% vs 6.5%
1425 Washington, Denver, CO 80203 · 1bd/1ba · $269,900
List Price
$269,900
Assumable Rate
3.41%
Remaining Balance
$87,922
Equity Gap
$183,520
Loan Type
FHAAdjust Your Scenario
$13,495
$13,495$183,520
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.41% (FHA)
Blended Rate: 6.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.41% + gap loan
$1,698/moAssumed loan: $390/mo
Gap financing: $1,307/mo
Your Savings on This Property
1425 Washington, Denver · 3.41% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($183,520) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,495, 5% of purchase price) and a second mortgage for the rest ($170,025 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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