Loan Comparison: 3.66% vs 6.5%
700 Alton, Denver, CO 80247 · 1bd/1ba · $159,000
List Price
$159,000
Assumable Rate
3.66%
Remaining Balance
$93,079
Equity Gap
$65,660
Loan Type
FHAAdjust Your Scenario
$7,950
$7,950$65,660
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$955/moAssumable @ 3.66% + gap loan
$870/moAssumed loan: $426/mo
Gap financing: $444/mo
$85less per month with the assumable
Your Savings on This Property
700 Alton, Denver · 3.66% FHA vs 6.5% conventional
$85
per month
$1,016
per year
$30,483
over 30 years
$30,222
interest saved
How gap financing works: The equity gap ($65,660) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,950, 5% of purchase price) and a second mortgage for the rest ($57,710 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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