Loan Comparison: 2.75% vs 6.5%
680 Alton, Denver, CO 80247 · 2bd/1ba · $179,900
List Price
$179,900
Assumable Rate
2.75%
Remaining Balance
$94,532
Equity Gap
$129,861
Loan Type
FHAAdjust Your Scenario
$8,995
$8,995$129,861
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,080/moAssumable @ 2.75% + gap loan
$1,315/moAssumed loan: $386/mo
Gap financing: $929/mo
Your Savings on This Property
680 Alton, Denver · 2.75% 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 ($129,861) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,995, 5% of purchase price) and a second mortgage for the rest ($120,866 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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