Loan Comparison: 3.51% vs 6.5%
465 Cody, Denver, CO 80226 · 4bd/2ba · $680,000
List Price
$680,000
Assumable Rate
3.51%
Remaining Balance
$637,434
Equity Gap
$62,991
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$62,991
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (FHA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 3.51% + gap loan
$3,089/moAssumed loan: $2,866/mo
Gap financing: $223/mo
$994less per month with the assumable
Your Savings on This Property
465 Cody, Denver · 3.51% FHA vs 6.5% conventional
$994
per month
$11,932
per year
$357,955
over 30 years
$378,380
interest saved
How gap financing works: The equity gap ($62,991) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($28,991 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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