Loan Comparison: 3.23% vs 6.5%
1910 Xenia, Denver, CO 80220 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
3.23%
Remaining Balance
$283,706
Equity Gap
$149,234
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$149,234
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.23% + gap loan
$2,216/moAssumed loan: $1,232/mo
Gap financing: $984/mo
$336less per month with the assumable
Your Savings on This Property
1910 Xenia, Denver · 3.23% FHA vs 6.5% conventional
$336
per month
$4,036
per year
$121,066
over 30 years
$129,006
interest saved
How gap financing works: The equity gap ($149,234) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($127,984 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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