Loan Comparison: 2.87% vs 6.5%
19372 41st, Denver, CO 80249 · 4bd/3ba · $519,988
List Price
$519,988
Assumable Rate
2.87%
Remaining Balance
$334,747
Equity Gap
$210,127
Loan Type
FHAAdjust Your Scenario
$25,999
$25,999$210,127
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 2.87% + gap loan
$2,804/moAssumed loan: $1,388/mo
Gap financing: $1,416/mo
$319less per month with the assumable
Your Savings on This Property
19372 41st, Denver · 2.87% FHA vs 6.5% conventional
$319
per month
$3,823
per year
$114,701
over 30 years
$139,587
interest saved
How gap financing works: The equity gap ($210,127) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,999, 5% of purchase price) and a second mortgage for the rest ($184,128 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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