Loan Comparison: 3.64% vs 6.5%
1570 Tamarac, Denver, CO 80220 · 8bd/4ba · $895,000
List Price
$895,000
Assumable Rate
3.64%
Remaining Balance
$610,211
Equity Gap
$284,789
Loan Type
FHAAdjust Your Scenario
$44,750
$44,750$284,789
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (FHA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,374/moAssumable @ 3.64% + gap loan
$4,634/moAssumed loan: $2,788/mo
Gap financing: $1,846/mo
$740less per month with the assumable
Your Savings on This Property
1570 Tamarac, Denver · 3.64% FHA vs 6.5% conventional
$740
per month
$8,885
per year
$266,557
over 30 years
$266,557
interest saved
How gap financing works: The equity gap ($284,789) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,750, 5% of purchase price) and a second mortgage for the rest ($240,039 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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