Loan Comparison: 4.04% vs 6.5%
11648 Grant, Denver, CO 80233 · 3bd/2ba · $299,900
List Price
$299,900
Assumable Rate
4.04%
Remaining Balance
$100,353
Equity Gap
$199,850
Loan Type
FHAAdjust Your Scenario
$14,995
$14,995$199,850
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (FHA)
Blended Rate: 6.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.04% + gap loan
$1,903/moAssumed loan: $481/mo
Gap financing: $1,421/mo
Your Savings on This Property
11648 Grant, Denver · 4.04% 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 ($199,850) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,995, 5% of purchase price) and a second mortgage for the rest ($184,855 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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