Loan Comparison: 3.44% vs 6.5%
2829 3rd, Denver, CO 80219 · 3bd/1ba · $325,000
List Price
$325,000
Assumable Rate
3.44%
Remaining Balance
$96,714
Equity Gap
$228,710
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$228,710
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 6.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.44% + gap loan
$2,065/moAssumed loan: $431/mo
Gap financing: $1,634/mo
Your Savings on This Property
2829 3rd, Denver · 3.44% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($228,710) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($212,460 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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