Loan Comparison: 3.45% vs 6.5%
2685 Dayton, Denver, CO 80231 · 3bd/2ba · $405,000
List Price
$405,000
Assumable Rate
3.45%
Remaining Balance
$374,244
Equity Gap
$30,756
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$30,756
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.45% + gap loan
$1,751/moAssumed loan: $1,670/mo
Gap financing: $81/mo
$681less per month with the assumable
Your Savings on This Property
2685 Dayton, Denver · 3.45% FHA vs 6.5% conventional
$681
per month
$8,172
per year
$245,162
over 30 years
$245,162
interest saved
How gap financing works: The equity gap ($30,756) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($10,506 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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