Loan Comparison: 4.17% vs 6.5%
2121 Lowell, Denver, CO 80219 · 3bd/2ba · $524,000
List Price
$524,000
Assumable Rate
4.17%
Remaining Balance
$329,520
Equity Gap
$194,479
Loan Type
FHAAdjust Your Scenario
$26,200
$26,200$194,479
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,146/moAssumable @ 4.17% + gap loan
$2,900/moAssumed loan: $1,606/mo
Gap financing: $1,294/mo
$247less per month with the assumable
Your Savings on This Property
2121 Lowell, Denver · 4.17% FHA vs 6.5% conventional
$247
per month
$2,962
per year
$88,873
over 30 years
$88,872
interest saved
How gap financing works: The equity gap ($194,479) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,200, 5% of purchase price) and a second mortgage for the rest ($168,279 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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