Loan Comparison: 3.07% vs 6.5%
2888 Zurich, Denver, CO 80236 · 4bd/2ba · $549,900
List Price
$549,900
Assumable Rate
3.07%
Remaining Balance
$475,838
Equity Gap
$74,061
Loan Type
FHAAdjust Your Scenario
$27,495
$27,495$74,061
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.07% + gap loan
$2,382/moAssumed loan: $2,024/mo
Gap financing: $358/mo
$920less per month with the assumable
Your Savings on This Property
2888 Zurich, Denver · 3.07% FHA vs 6.5% conventional
$920
per month
$11,037
per year
$331,107
over 30 years
$331,106
interest saved
How gap financing works: The equity gap ($74,061) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($46,566 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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