Loan Comparison: 4.98% vs 6.5%
3835 3RD, Denver, CO 80219 · 3bd/1ba · $540,000
List Price
$540,000
Assumable Rate
4.98%
Remaining Balance
$460,286
Equity Gap
$79,714
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$79,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 4.98% + gap loan
$2,871/moAssumed loan: $2,465/mo
Gap financing: $405/mo
$372less per month with the assumable
Your Savings on This Property
3835 3RD, Denver · 4.98% FHA vs 6.5% conventional
$372
per month
$4,463
per year
$133,881
over 30 years
$133,881
interest saved
How gap financing works: The equity gap ($79,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($52,714 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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