Loan Comparison: 3.02% vs 6.5%
1831 Dale, Denver, CO 80219 · 4bd/2ba · $514,900
List Price
$514,900
Assumable Rate
3.02%
Remaining Balance
$375,174
Equity Gap
$139,726
Loan Type
FHAAdjust Your Scenario
$25,745
$25,745$139,726
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 3.02% + gap loan
$2,462/moAssumed loan: $1,586/mo
Gap financing: $876/mo
$630less per month with the assumable
Your Savings on This Property
1831 Dale, Denver · 3.02% FHA vs 6.5% conventional
$630
per month
$7,555
per year
$226,648
over 30 years
$226,648
interest saved
How gap financing works: The equity gap ($139,726) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,745, 5% of purchase price) and a second mortgage for the rest ($113,981 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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