Loan Comparison: 3.07% vs 6.5%
8451 Madison, Denver, CO 80229 · 3bd/2ba · $343,000
List Price
$343,000
Assumable Rate
3.07%
Remaining Balance
$282,725
Equity Gap
$72,308
Loan Type
FHAAdjust Your Scenario
$17,150
$17,150$72,308
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,060/moAssumable @ 3.07% + gap loan
$1,627/moAssumed loan: $1,203/mo
Gap financing: $424/mo
$433less per month with the assumable
Your Savings on This Property
8451 Madison, Denver · 3.07% FHA vs 6.5% conventional
$433
per month
$5,194
per year
$155,807
over 30 years
$167,840
interest saved
How gap financing works: The equity gap ($72,308) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,150, 5% of purchase price) and a second mortgage for the rest ($55,158 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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