Loan Comparison: 3.66% vs 6.5%
700 Alton, Denver, CO 80247 · 1bd/1ba · $169,900
List Price
$169,900
Assumable Rate
3.66%
Remaining Balance
$94,378
Equity Gap
$76,560
Loan Type
FHAAdjust Your Scenario
$8,495
$8,495$76,560
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,020/moAssumable @ 3.66% + gap loan
$956/moAssumed loan: $432/mo
Gap financing: $523/mo
$65less per month with the assumable
Your Savings on This Property
700 Alton, Denver · 3.66% FHA vs 6.5% conventional
$65
per month
$775
per year
$23,240
over 30 years
$24,278
interest saved
How gap financing works: The equity gap ($76,560) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,495, 5% of purchase price) and a second mortgage for the rest ($68,065 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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