Loan Comparison: 3.06% vs 6.5%
13400 Raritan, Denver, CO 80234 · 4bd/3ba · $589,900
List Price
$589,900
Assumable Rate
3.06%
Remaining Balance
$478,391
Equity Gap
$111,508
Loan Type
FHAAdjust Your Scenario
$29,495
$29,495$111,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 3.06% + gap loan
$2,663/moAssumed loan: $2,032/mo
Gap financing: $631/mo
$879less per month with the assumable
Your Savings on This Property
13400 Raritan, Denver · 3.06% FHA vs 6.5% conventional
$879
per month
$10,549
per year
$316,477
over 30 years
$316,476
interest saved
How gap financing works: The equity gap ($111,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,495, 5% of purchase price) and a second mortgage for the rest ($82,013 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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