Loan Comparison: 3.64% vs 6.5%
1570 Tamarac, Denver, CO 80220 · 8bd/4ba · $945,000
List Price
$945,000
Assumable Rate
3.64%
Remaining Balance
$722,095
Equity Gap
$332,043
Loan Type
FHAAdjust Your Scenario
$47,250
$47,250$332,043
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%
$5,674/moAssumable @ 3.64% + gap loan
$5,489/moAssumed loan: $3,299/mo
Gap financing: $2,190/mo
$185less per month with the assumable
Your Savings on This Property
1570 Tamarac, Denver · 3.64% FHA vs 6.5% conventional
$185
per month
$2,224
per year
$66,728
over 30 years
$175,866
interest saved
How gap financing works: The equity gap ($332,043) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,250, 5% of purchase price) and a second mortgage for the rest ($284,793 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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