Loan Comparison: 2.45% vs 6.5%
3435 Franklin, Denver, CO 80205 · 4bd/2ba · $574,900
List Price
$574,900
Assumable Rate
2.45%
Remaining Balance
$505,450
Equity Gap
$68,342
Loan Type
FHAAdjust Your Scenario
$28,745
$28,745$68,342
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.45% (FHA)
Blended Rate: 2.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,452/moAssumable @ 2.45% + gap loan
$2,288/moAssumed loan: $1,984/mo
Gap financing: $304/mo
$1,164less per month with the assumable
Your Savings on This Property
3435 Franklin, Denver · 2.45% FHA vs 6.5% conventional
$1,164
per month
$13,963
per year
$418,889
over 30 years
$417,781
interest saved
How gap financing works: The equity gap ($68,342) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,745, 5% of purchase price) and a second mortgage for the rest ($39,597 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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