Loan Comparison: 2.67% vs 6.5%
18656 54th, Denver, CO 80249 · 4bd/3ba · $420,000
List Price
$420,000
Assumable Rate
2.67%
Remaining Balance
$282,245
Equity Gap
$136,397
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$136,397
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.67% (FHA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.67% + gap loan
$2,028/moAssumed loan: $1,140/mo
Gap financing: $887/mo
$494less per month with the assumable
Your Savings on This Property
18656 54th, Denver · 2.67% FHA vs 6.5% conventional
$494
per month
$5,932
per year
$177,960
over 30 years
$176,602
interest saved
How gap financing works: The equity gap ($136,397) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($115,397 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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