Loan Comparison: 4.2% vs 6.5%
9645 Morrison, Denver, CO 80227 · 3bd/2ba · $614,964
List Price
$614,964
Assumable Rate
4.2%
Remaining Balance
$304,345
Equity Gap
$310,619
Loan Type
FHAAdjust Your Scenario
$30,748
$30,748$310,619
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 4.2% + gap loan
$3,640/moAssumed loan: $1,488/mo
Gap financing: $2,152/mo
$52less per month with the assumable
Your Savings on This Property
9645 Morrison, Denver · 4.2% FHA vs 6.5% conventional
$52
per month
$629
per year
$18,855
over 30 years
$18,856
interest saved
How gap financing works: The equity gap ($310,619) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,748, 5% of purchase price) and a second mortgage for the rest ($279,871 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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