Loan Comparison: 2.68% vs 6.5%
5042 Scranton, Denver, CO 80239 · 4bd/2ba · $440,000
List Price
$440,000
Assumable Rate
2.68%
Remaining Balance
$330,953
Equity Gap
$107,472
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$107,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.68% + gap loan
$1,996/moAssumed loan: $1,339/mo
Gap financing: $657/mo
$646less per month with the assumable
Your Savings on This Property
5042 Scranton, Denver · 2.68% FHA vs 6.5% conventional
$646
per month
$7,752
per year
$232,557
over 30 years
$230,982
interest saved
How gap financing works: The equity gap ($107,472) 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 ($85,472 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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