Loan Comparison: 4.98% vs 6.5%
3835 3RD, Denver, CO 80219 · 3bd/2ba · $500,000
List Price
$500,000
Assumable Rate
4.98%
Remaining Balance
$459,566
Equity Gap
$39,714
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$39,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 4.98% + gap loan
$2,575/moAssumed loan: $2,461/mo
Gap financing: $113/mo
$428less per month with the assumable
Your Savings on This Property
3835 3RD, Denver · 4.98% FHA vs 6.5% conventional
$428
per month
$5,133
per year
$153,990
over 30 years
$153,270
interest saved
How gap financing works: The equity gap ($39,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($14,714 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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