Loan Comparison: 3.77% vs 6.5%
1350 Josephine, Denver, CO 80206 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
3.77%
Remaining Balance
$249,573
Equity Gap
$54,025
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$54,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 4.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.77% + gap loan
$1,470/moAssumed loan: $1,159/mo
Gap financing: $312/mo
$151less per month with the assumable
Your Savings on This Property
1350 Josephine, Denver · 3.77% FHA vs 6.5% conventional
$151
per month
$1,812
per year
$54,362
over 30 years
$87,960
interest saved
How gap financing works: The equity gap ($54,025) 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 ($40,525 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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