Loan Comparison: 2.84% vs 6.5%
4135 Delaware, Englewood, CO 80110 · 3bd/2ba · $535,000
List Price
$535,000
Assumable Rate
2.84%
Remaining Balance
$409,581
Equity Gap
$122,666
Loan Type
FHAAdjust Your Scenario
$26,750
$26,750$122,666
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 2.84% + gap loan
$2,429/moAssumed loan: $1,692/mo
Gap financing: $738/mo
$783less per month with the assumable
Your Savings on This Property
4135 Delaware, Englewood · 2.84% FHA vs 6.5% conventional
$783
per month
$9,400
per year
$281,990
over 30 years
$279,237
interest saved
How gap financing works: The equity gap ($122,666) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($95,916 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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