Loan Comparison: 2.68% vs 6.5%
11193 Alcott, Denver, CO 80234 · 2bd/1ba · $279,000
List Price
$279,000
Assumable Rate
2.68%
Remaining Balance
$211,538
Equity Gap
$66,460
Loan Type
FHAAdjust Your Scenario
$13,950
$13,950$66,460
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 2.68% + gap loan
$1,260/moAssumed loan: $856/mo
Gap financing: $404/mo
$416less per month with the assumable
Your Savings on This Property
11193 Alcott, Denver · 2.68% FHA vs 6.5% conventional
$416
per month
$4,989
per year
$149,680
over 30 years
$148,678
interest saved
How gap financing works: The equity gap ($66,460) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($52,510 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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