Loan Comparison: 3.23% vs 6.5%
4780 Biscay, Denver, CO 80249 · 2bd/2ba · $449,900
List Price
$449,900
Assumable Rate
3.23%
Remaining Balance
$307,606
Equity Gap
$153,453
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$153,453
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.23% + gap loan
$2,342/moAssumed loan: $1,335/mo
Gap financing: $1,007/mo
$359less per month with the assumable
Your Savings on This Property
4780 Biscay, Denver · 3.23% FHA vs 6.5% conventional
$359
per month
$4,310
per year
$129,308
over 30 years
$140,467
interest saved
How gap financing works: The equity gap ($153,453) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($130,958 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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