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
$535,539
Equity Gap
$110,457
Loan Type
FHAAdjust Your Scenario
$29,495
$29,495$110,457
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 3.06% + gap loan
$2,898/moAssumed loan: $2,275/mo
Gap financing: $623/mo
$644less per month with the assumable
Your Savings on This Property
13400 Raritan, Denver · 3.06% FHA vs 6.5% conventional
$644
per month
$7,733
per year
$231,981
over 30 years
$288,077
interest saved
How gap financing works: The equity gap ($110,457) 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 ($80,962 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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