Loan Comparison: 3.69% vs 6.5%
1751 Pontiac, Denver, CO 80220 · 2bd/2ba · $745,000
List Price
$745,000
Assumable Rate
3.69%
Remaining Balance
$340,669
Equity Gap
$404,330
Loan Type
FHAAdjust Your Scenario
$37,250
$37,250$404,330
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,473/moAssumable @ 3.69% + gap loan
$4,389/moAssumed loan: $1,566/mo
Gap financing: $2,823/mo
$85less per month with the assumable
Your Savings on This Property
1751 Pontiac, Denver · 3.69% FHA vs 6.5% conventional
$85
per month
$1,018
per year
$30,535
over 30 years
$30,534
interest saved
How gap financing works: The equity gap ($404,330) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,250, 5% of purchase price) and a second mortgage for the rest ($367,080 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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