Loan Comparison: 3.08% vs 6.5%
1740 96th, Denver, CO 80229 · 3bd/2ba · $470,000
List Price
$470,000
Assumable Rate
3.08%
Remaining Balance
$377,617
Equity Gap
$102,824
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$102,824
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.08% + gap loan
$2,218/moAssumed loan: $1,608/mo
Gap financing: $610/mo
$604less per month with the assumable
Your Savings on This Property
1740 96th, Denver · 3.08% FHA vs 6.5% conventional
$604
per month
$7,246
per year
$217,391
over 30 years
$227,832
interest saved
How gap financing works: The equity gap ($102,824) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($79,324 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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