Loan Comparison: 3.96% vs 6.5%
2846 Quay, Denver, CO 80227 · 4bd/2ba · $590,000
List Price
$590,000
Assumable Rate
3.96%
Remaining Balance
$222,922
Equity Gap
$366,462
Loan Type
FHAAdjust Your Scenario
$29,500
$29,500$366,462
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.96% (FHA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 3.96% + gap loan
$3,650/moAssumed loan: $1,059/mo
Gap financing: $2,591/mo
Your Savings on This Property
2846 Quay, Denver · 3.96% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($366,462) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($336,962 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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