Loan Comparison: 2.87% vs 6.5%
18620 46th, Denver, CO 80249 · 3bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.87%
Remaining Balance
$218,618
Equity Gap
$215,897
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$215,897
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 5.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.87% + gap loan
$2,399/moAssumed loan: $906/mo
Gap financing: $1,493/mo
$213less per month with the assumable
Your Savings on This Property
18620 46th, Denver · 2.87% FHA vs 6.5% conventional
$213
per month
$2,553
per year
$76,591
over 30 years
$76,106
interest saved
How gap financing works: The equity gap ($215,897) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($194,147 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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