Loan Comparison: 4.98% vs 6.5%
675 University, Denver, CO 80209 · 2bd/1ba · $398,000
List Price
$398,000
Assumable Rate
4.98%
Remaining Balance
$345,732
Equity Gap
$65,565
Loan Type
FHAAdjust Your Scenario
$19,900
$19,900$65,565
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,390/moAssumable @ 4.98% + gap loan
$2,203/moAssumed loan: $1,852/mo
Gap financing: $351/mo
$187less per month with the assumable
Your Savings on This Property
675 University, Denver · 4.98% FHA vs 6.5% conventional
$187
per month
$2,244
per year
$67,314
over 30 years
$80,611
interest saved
How gap financing works: The equity gap ($65,565) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,900, 5% of purchase price) and a second mortgage for the rest ($45,665 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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