Loan Comparison: 3.9% vs 6.5%
5535 Killarney, Denver, CO 80249 · 2bd/3ba · $419,950
List Price
$419,950
Assumable Rate
3.9%
Remaining Balance
$244,614
Equity Gap
$175,336
Loan Type
FHAAdjust Your Scenario
$20,998
$20,998$175,336
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.9% + gap loan
$2,340/moAssumed loan: $1,154/mo
Gap financing: $1,187/mo
$181less per month with the assumable
Your Savings on This Property
5535 Killarney, Denver · 3.9% FHA vs 6.5% conventional
$181
per month
$2,174
per year
$65,217
over 30 years
$65,217
interest saved
How gap financing works: The equity gap ($175,336) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,998, 5% of purchase price) and a second mortgage for the rest ($154,338 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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