Loan Comparison: 3.62% vs 6.5%
3141 Tamarac, Denver, CO 80231 · 2bd/2ba · $205,000
List Price
$205,000
Assumable Rate
3.62%
Remaining Balance
$222,373
Equity Gap
$13,536
Loan Type
FHAAdjust Your Scenario
$10,250
$10,250$13,536
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,231/moAssumable @ 3.62% + gap loan
$1,039/moAssumed loan: $1,014/mo
Gap financing: $25/mo
$192less per month with the assumable
Your Savings on This Property
3141 Tamarac, Denver · 3.62% FHA vs 6.5% conventional
$192
per month
$2,306
per year
$69,184
over 30 years
$100,093
interest saved
How gap financing works: The equity gap ($13,536) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,250, 5% of purchase price) and a second mortgage for the rest ($3,286 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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