Loan Comparison: 3.31% vs 6.5%
8356 Mitze, Denver, CO 80221 · 4bd/2ba · $490,000
List Price
$490,000
Assumable Rate
3.31%
Remaining Balance
$352,770
Equity Gap
$150,034
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$150,034
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 3.31% + gap loan
$2,512/moAssumed loan: $1,547/mo
Gap financing: $965/mo
$430less per month with the assumable
Your Savings on This Property
8356 Mitze, Denver · 3.31% FHA vs 6.5% conventional
$430
per month
$5,161
per year
$154,840
over 30 years
$167,644
interest saved
How gap financing works: The equity gap ($150,034) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($125,534 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.
🏠
Back to This Listing
View photos, details, and request a showing for 8356 Mitze.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.