Loan Comparison: 3.47% vs 6.5%
2361 Eppringer, Denver, CO 80229 · 3bd/1ba · $384,900
List Price
$384,900
Assumable Rate
3.47%
Remaining Balance
$177,390
Equity Gap
$207,510
Loan Type
FHAAdjust Your Scenario
$19,245
$19,245$207,510
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,311/moAssumable @ 3.47% + gap loan
$2,241/moAssumed loan: $794/mo
Gap financing: $1,448/mo
$70less per month with the assumable
Your Savings on This Property
2361 Eppringer, Denver · 3.47% FHA vs 6.5% conventional
$70
per month
$840
per year
$25,200
over 30 years
$25,200
interest saved
How gap financing works: The equity gap ($207,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,245, 5% of purchase price) and a second mortgage for the rest ($188,265 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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