Loan Comparison: 3.94% vs 6.5%
6505 Mississippi, Denver, CO 80232 · 3bd/3ba · $339,999
List Price
$339,999
Assumable Rate
3.94%
Remaining Balance
$171,182
Equity Gap
$187,304
Loan Type
FHAAdjust Your Scenario
$17,000
$17,000$187,304
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.94% (FHA)
Blended Rate: 6.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 3.94% + gap loan
$2,121/moAssumed loan: $811/mo
Gap financing: $1,309/mo
Your Savings on This Property
6505 Mississippi, Denver · 3.94% 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 ($187,304) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($170,304 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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