Loan Comparison: 3.45% vs 6.5%
2685 Dayton, Denver, CO 80231 · 3bd/2ba · $415,000
List Price
$415,000
Assumable Rate
3.45%
Remaining Balance
$389,994
Equity Gap
$39,255
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$39,255
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.45% + gap loan
$1,883/moAssumed loan: $1,740/mo
Gap financing: $142/mo
$609less per month with the assumable
Your Savings on This Property
2685 Dayton, Denver · 3.45% FHA vs 6.5% conventional
$609
per month
$7,311
per year
$219,334
over 30 years
$233,583
interest saved
How gap financing works: The equity gap ($39,255) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($18,505 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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