Loan Comparison: 3.31% vs 6.5%
2232 Coronado, Denver, CO 80229 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
3.31%
Remaining Balance
$189,348
Equity Gap
$81,503
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$81,503
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.31% + gap loan
$1,353/moAssumed loan: $830/mo
Gap financing: $523/mo
$268less per month with the assumable
Your Savings on This Property
2232 Coronado, Denver · 3.31% FHA vs 6.5% conventional
$268
per month
$3,217
per year
$96,504
over 30 years
$97,355
interest saved
How gap financing works: The equity gap ($81,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($68,003 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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