Loan Comparison: 4.88% vs 6.5%
3299 Lowell, Denver, CO 80211 · 1bd/1ba · $414,900
List Price
$414,900
Assumable Rate
4.88%
Remaining Balance
$165,643
Equity Gap
$267,429
Loan Type
FHAAdjust Your Scenario
$20,745
$20,745$267,429
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.88% (FHA)
Blended Rate: 7.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,491/moAssumable @ 4.88% + gap loan
$2,774/moAssumed loan: $877/mo
Gap financing: $1,897/mo
Your Savings on This Property
3299 Lowell, Denver · 4.88% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($267,429) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,745, 5% of purchase price) and a second mortgage for the rest ($246,684 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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