Loan Comparison: 3.31% vs 6.5%
4684 Chandler, Denver, CO 80239 · 3bd/2ba · $440,000
List Price
$440,000
Assumable Rate
3.31%
Remaining Balance
$314,711
Equity Gap
$139,441
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$139,441
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.31% + gap loan
$2,283/moAssumed loan: $1,380/mo
Gap financing: $903/mo
$359less per month with the assumable
Your Savings on This Property
4684 Chandler, Denver · 3.31% FHA vs 6.5% conventional
$359
per month
$4,308
per year
$129,239
over 30 years
$143,391
interest saved
How gap financing works: The equity gap ($139,441) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($117,441 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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