Loan Comparison: 2.81% vs 6.5%
1902 116th, Northglenn, CO 80233 · 3bd/1ba · $475,000
List Price
$475,000
Assumable Rate
2.81%
Remaining Balance
$291,329
Equity Gap
$184,336
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$184,336
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.81% + gap loan
$2,433/moAssumed loan: $1,199/mo
Gap financing: $1,235/mo
$419less per month with the assumable
Your Savings on This Property
1902 116th, Northglenn · 2.81% FHA vs 6.5% conventional
$419
per month
$5,026
per year
$150,781
over 30 years
$151,446
interest saved
How gap financing works: The equity gap ($184,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($160,586 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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