Loan Comparison: 3.86% vs 6.5%
2723 Fenton, Denver, CO 80227 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
3.86%
Remaining Balance
$463,661
Equity Gap
$383,852
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$383,852
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 3.86% + gap loan
$4,878/moAssumed loan: $2,176/mo
Gap financing: $2,702/mo
Your Savings on This Property
2723 Fenton, Denver · 3.86% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($383,852) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($351,352 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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