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
$92,554
Equity Gap
$66,446
Loan Type
FHAAdjust Your Scenario
$7,950
$7,950$66,446
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$955/moAssumable @ 3.66% + gap loan
$874/moAssumed loan: $424/mo
Gap financing: $450/mo
$81less per month with the assumable
Your Savings on This Property
700 Alton, Denver · 3.66% FHA vs 6.5% conventional
$81
per month
$972
per year
$29,173
over 30 years
$29,173
interest saved
How gap financing works: The equity gap ($66,446) 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 ($58,496 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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