Loan Comparison: 2.74% vs 6.5%
11765 Elati, Denver, CO 80234 · 4bd/2ba · $469,000
List Price
$469,000
Assumable Rate
2.74%
Remaining Balance
$302,562
Equity Gap
$191,438
Loan Type
FHAAdjust Your Scenario
$23,450
$23,450$191,438
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 2.74% + gap loan
$2,525/moAssumed loan: $1,234/mo
Gap financing: $1,292/mo
$291less per month with the assumable
Your Savings on This Property
11765 Elati, Denver · 2.74% FHA vs 6.5% conventional
$291
per month
$3,491
per year
$104,730
over 30 years
$129,730
interest saved
How gap financing works: The equity gap ($191,438) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($167,988 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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