Loan Comparison: 3.76% vs 6.5%
2001 Vassar, Englewood, CO 80110 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
3.76%
Remaining Balance
$340,824
Equity Gap
$89,176
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$89,176
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.76% + gap loan
$2,101/moAssumed loan: $1,580/mo
Gap financing: $520/mo
$481less per month with the assumable
Your Savings on This Property
2001 Vassar, Englewood · 3.76% FHA vs 6.5% conventional
$481
per month
$5,775
per year
$173,262
over 30 years
$173,262
interest saved
How gap financing works: The equity gap ($89,176) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($67,676 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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