Loan Comparison: 3.06% vs 6.5%
13400 Raritan, Denver, CO 80234 · 4bd/3ba · $549,900
List Price
$549,900
Assumable Rate
3.06%
Remaining Balance
$476,281
Equity Gap
$70,457
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$70,457
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.06% + gap loan
$2,354/moAssumed loan: $2,023/mo
Gap financing: $330/mo
$948less per month with the assumable
Your Savings on This Property
13400 Raritan, Denver · 3.06% FHA vs 6.5% conventional
$948
per month
$11,378
per year
$341,334
over 30 years
$338,172
interest saved
How gap financing works: The equity gap ($70,457) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($42,962 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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