Loan Comparison: 3.31% vs 6.5%
8356 Mitze, Denver, CO 80221 · 4bd/2ba · $449,999
List Price
$449,999
Assumable Rate
3.31%
Remaining Balance
$337,670
Equity Gap
$112,329
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$112,329
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.31% + gap loan
$2,171/moAssumed loan: $1,481/mo
Gap financing: $691/mo
$531less per month with the assumable
Your Savings on This Property
8356 Mitze, Denver · 3.31% FHA vs 6.5% conventional
$531
per month
$6,368
per year
$191,043
over 30 years
$191,043
interest saved
How gap financing works: The equity gap ($112,329) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($89,829 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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