Loan Comparison: 2.83% vs 6.5%
4307 Durham, Denver, CO 80239 · 6bd/4ba · $575,000
List Price
$575,000
Assumable Rate
2.83%
Remaining Balance
$360,971
Equity Gap
$213,446
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$213,446
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.83% + gap loan
$2,909/moAssumed loan: $1,489/mo
Gap financing: $1,420/mo
$544less per month with the assumable
Your Savings on This Property
4307 Durham, Denver · 2.83% FHA vs 6.5% conventional
$544
per month
$6,523
per year
$195,677
over 30 years
$195,094
interest saved
How gap financing works: The equity gap ($213,446) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($184,696 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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