Loan Comparison: 3.62% vs 6.5%
6707 Mariposa, Denver, CO 80221 · 3bd/4ba · $715,000
List Price
$715,000
Assumable Rate
3.62%
Remaining Balance
$494,735
Equity Gap
$220,265
Loan Type
FHAAdjust Your Scenario
$35,750
$35,750$220,265
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 3.62% + gap loan
$3,674/moAssumed loan: $2,255/mo
Gap financing: $1,419/mo
$620less per month with the assumable
Your Savings on This Property
6707 Mariposa, Denver · 3.62% FHA vs 6.5% conventional
$620
per month
$7,436
per year
$223,095
over 30 years
$223,095
interest saved
How gap financing works: The equity gap ($220,265) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($184,515 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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