Loan Comparison: 3.76% vs 6.5%
1880 Cole, Denver, CO 80228 · 2bd/3ba · $345,000
List Price
$345,000
Assumable Rate
3.76%
Remaining Balance
$53,521
Equity Gap
$290,923
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$290,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 7.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 3.76% + gap loan
$2,352/moAssumed loan: $248/mo
Gap financing: $2,104/mo
Your Savings on This Property
1880 Cole, Denver · 3.76% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($290,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($273,673 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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