Loan Comparison: 3.31% vs 6.5%
19118 54th, Denver, CO 80249 · 2bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.31%
Remaining Balance
$264,563
Equity Gap
$150,437
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$150,437
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.31% + gap loan
$2,157/moAssumed loan: $1,160/mo
Gap financing: $997/mo
$335less per month with the assumable
Your Savings on This Property
19118 54th, Denver · 3.31% FHA vs 6.5% conventional
$335
per month
$4,015
per year
$120,464
over 30 years
$120,464
interest saved
How gap financing works: The equity gap ($150,437) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($129,687 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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