Loan Comparison: 3.66% vs 6.5%
605 Clinton, Denver, CO 80247 · 1bd/1ba · $110,000
List Price
$110,000
Assumable Rate
3.66%
Remaining Balance
$67,350
Equity Gap
$42,461
Loan Type
FHAAdjust Your Scenario
$5,500
$5,500$42,461
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$661/moAssumable @ 3.66% + gap loan
$593/moAssumed loan: $308/mo
Gap financing: $284/mo
$68less per month with the assumable
Your Savings on This Property
605 Clinton, Denver · 3.66% FHA vs 6.5% conventional
$68
per month
$814
per year
$24,420
over 30 years
$24,231
interest saved
How gap financing works: The equity gap ($42,461) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($5,500, 5% of purchase price) and a second mortgage for the rest ($36,961 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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