Loan Comparison: 2.81% vs 6.5%
45 Yates, Denver, CO 80219 · 4bd/2ba · $539,900
List Price
$539,900
Assumable Rate
2.81%
Remaining Balance
$381,877
Equity Gap
$156,262
Loan Type
FHAAdjust Your Scenario
$26,995
$26,995$156,262
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,242/moAssumable @ 2.81% + gap loan
$2,565/moAssumed loan: $1,571/mo
Gap financing: $994/mo
$677less per month with the assumable
Your Savings on This Property
45 Yates, Denver · 2.81% FHA vs 6.5% conventional
$677
per month
$8,122
per year
$243,653
over 30 years
$241,892
interest saved
How gap financing works: The equity gap ($156,262) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,995, 5% of purchase price) and a second mortgage for the rest ($129,267 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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