Loan Comparison: 3.07% vs 6.5%
6825 Martin Luther King Jr, Denver, CO 80207 · 4bd/2ba · $469,900
List Price
$469,900
Assumable Rate
3.07%
Remaining Balance
$434,798
Equity Gap
$47,426
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$47,426
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.07% + gap loan
$2,034/moAssumed loan: $1,850/mo
Gap financing: $184/mo
$788less per month with the assumable
Your Savings on This Property
6825 Martin Luther King Jr, Denver · 3.07% FHA vs 6.5% conventional
$788
per month
$9,456
per year
$283,678
over 30 years
$296,002
interest saved
How gap financing works: The equity gap ($47,426) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($23,931 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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