Loan Comparison: 4.05% vs 6.5%
7101 Yale, Denver, CO 80227 · 3bd/4ba · $439,990
List Price
$439,990
Assumable Rate
4.05%
Remaining Balance
$205,204
Equity Gap
$234,785
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$234,785
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 4.05% + gap loan
$2,622/moAssumed loan: $986/mo
Gap financing: $1,636/mo
$20less per month with the assumable
Your Savings on This Property
7101 Yale, Denver · 4.05% FHA vs 6.5% conventional
$20
per month
$243
per year
$7,291
over 30 years
$7,289
interest saved
How gap financing works: The equity gap ($234,785) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($212,785 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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