Loan Comparison: 3.9% vs 6.5%
635 Alton, Denver, CO 80247 · 2bd/2ba · $215,900
List Price
$215,900
Assumable Rate
3.9%
Remaining Balance
$61,415
Equity Gap
$154,331
Loan Type
FHAAdjust Your Scenario
$10,795
$10,795$154,331
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 7.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,296/moAssumable @ 3.9% + gap loan
$1,393/moAssumed loan: $290/mo
Gap financing: $1,104/mo
Your Savings on This Property
635 Alton, Denver · 3.9% 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 ($154,331) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,795, 5% of purchase price) and a second mortgage for the rest ($143,536 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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