Loan Comparison: 2.89% vs 6.5%
9449 Inca, Denver, CO 80260 · 3bd/2ba · $449,900
List Price
$449,900
Assumable Rate
2.89%
Remaining Balance
$367,687
Equity Gap
$149,171
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$149,171
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 2.89% + gap loan
$2,502/moAssumed loan: $1,528/mo
Gap financing: $974/mo
$199less per month with the assumable
Your Savings on This Property
9449 Inca, Denver · 2.89% FHA vs 6.5% conventional
$199
per month
$2,388
per year
$71,642
over 30 years
$138,600
interest saved
How gap financing works: The equity gap ($149,171) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($126,676 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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