Loan Comparison: 2.96% vs 6.5%
3551 Yosemite, Denver, CO 80238 · 3bd/3ba · $730,000
List Price
$730,000
Assumable Rate
2.96%
Remaining Balance
$594,488
Equity Gap
$192,067
Loan Type
FHAAdjust Your Scenario
$36,500
$36,500$192,067
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 2.96% + gap loan
$3,690/moAssumed loan: $2,494/mo
Gap financing: $1,196/mo
$694less per month with the assumable
Your Savings on This Property
3551 Yosemite, Denver · 2.96% FHA vs 6.5% conventional
$694
per month
$8,324
per year
$249,709
over 30 years
$306,264
interest saved
How gap financing works: The equity gap ($192,067) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,500, 5% of purchase price) and a second mortgage for the rest ($155,567 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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