Loan Comparison: 4.25% vs 6.5%
3047 47th, Denver, CO 80211 · 1bd/1ba · $165,000
List Price
$165,000
Assumable Rate
4.25%
Remaining Balance
$30,490
Equity Gap
$134,810
Loan Type
FHAAdjust Your Scenario
$8,250
$8,250$134,810
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.25% (FHA)
Blended Rate: 7.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$991/moAssumable @ 4.25% + gap loan
$1,123/moAssumed loan: $150/mo
Gap financing: $973/mo
Your Savings on This Property
3047 47th, Denver · 4.25% 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 ($134,810) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,250, 5% of purchase price) and a second mortgage for the rest ($126,560 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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