Loan Comparison: 3.45% vs 6.5%
1382 Canosa, Denver, CO 80219 · 2bd/1ba · $435,000
List Price
$435,000
Assumable Rate
3.45%
Remaining Balance
$305,164
Equity Gap
$141,573
Loan Type
FHAAdjust Your Scenario
$21,750
$21,750$141,573
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 3.45% + gap loan
$2,283/moAssumed loan: $1,362/mo
Gap financing: $921/mo
$329less per month with the assumable
Your Savings on This Property
1382 Canosa, Denver · 3.45% FHA vs 6.5% conventional
$329
per month
$3,946
per year
$118,392
over 30 years
$130,129
interest saved
How gap financing works: The equity gap ($141,573) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($119,823 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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