Loan Comparison: 4.01% vs 6.5%
11446 Jersey, Denver, CO 80233 · 3bd/3ba · $569,000
List Price
$569,000
Assumable Rate
4.01%
Remaining Balance
$257,833
Equity Gap
$310,523
Loan Type
FHAAdjust Your Scenario
$28,450
$28,450$310,523
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.01% (FHA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,417/moAssumable @ 4.01% + gap loan
$3,401/moAssumed loan: $1,232/mo
Gap financing: $2,169/mo
$15less per month with the assumable
Your Savings on This Property
11446 Jersey, Denver · 4.01% FHA vs 6.5% conventional
$15
per month
$184
per year
$5,517
over 30 years
$4,873
interest saved
How gap financing works: The equity gap ($310,523) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,450, 5% of purchase price) and a second mortgage for the rest ($282,073 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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