Loan Comparison: 4.17% vs 6.5%
20723 43rd, Denver, CO 80249 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
4.17%
Remaining Balance
$344,136
Equity Gap
$105,864
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$105,864
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 4.17% + gap loan
$2,318/moAssumed loan: $1,677/mo
Gap financing: $641/mo
$384less per month with the assumable
Your Savings on This Property
20723 43rd, Denver · 4.17% FHA vs 6.5% conventional
$384
per month
$4,611
per year
$138,323
over 30 years
$138,323
interest saved
How gap financing works: The equity gap ($105,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($83,364 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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