Loan Comparison: 3.31% vs 6.5%
4684 Chandler, Denver, CO 80239 · 3bd/2ba · $425,000
List Price
$425,000
Assumable Rate
3.31%
Remaining Balance
$299,881
Equity Gap
$125,119
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$125,119
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.31% + gap loan
$2,114/moAssumed loan: $1,315/mo
Gap financing: $799/mo
$438less per month with the assumable
Your Savings on This Property
4684 Chandler, Denver · 3.31% FHA vs 6.5% conventional
$438
per month
$5,260
per year
$157,794
over 30 years
$157,794
interest saved
How gap financing works: The equity gap ($125,119) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($103,869 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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