Loan Comparison: 2.98% vs 6.5%
10180 Quivas, Denver, CO 80260 · 2bd/2ba · $359,996
List Price
$359,996
Assumable Rate
2.98%
Remaining Balance
$287,268
Equity Gap
$72,727
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$72,727
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.98% + gap loan
$1,629/moAssumed loan: $1,208/mo
Gap financing: $421/mo
$533less per month with the assumable
Your Savings on This Property
10180 Quivas, Denver · 2.98% FHA vs 6.5% conventional
$533
per month
$6,394
per year
$191,811
over 30 years
$191,810
interest saved
How gap financing works: The equity gap ($72,727) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($54,727 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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