Loan Comparison: 2.68% vs 6.5%
11193 Alcott, Denver, CO 80234 · 2bd/1ba · $290,000
List Price
$290,000
Assumable Rate
2.68%
Remaining Balance
$212,540
Equity Gap
$77,460
Loan Type
FHAAdjust Your Scenario
$14,500
$14,500$77,460
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 2.68% + gap loan
$1,344/moAssumed loan: $860/mo
Gap financing: $484/mo
$397less per month with the assumable
Your Savings on This Property
11193 Alcott, Denver · 2.68% FHA vs 6.5% conventional
$397
per month
$4,769
per year
$143,073
over 30 years
$143,073
interest saved
How gap financing works: The equity gap ($77,460) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($62,960 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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