Loan Comparison: 3.62% vs 6.5%
4685 Gill, Denver, CO 80219 · 4bd/2ba · $440,000
List Price
$440,000
Assumable Rate
3.62%
Remaining Balance
$405,634
Equity Gap
$121,482
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$121,482
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 4.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.62% + gap loan
$2,614/moAssumed loan: $1,849/mo
Gap financing: $765/mo
$28less per month with the assumable
Your Savings on This Property
4685 Gill, Denver · 3.62% FHA vs 6.5% conventional
$28
per month
$340
per year
$10,208
over 30 years
$97,324
interest saved
How gap financing works: The equity gap ($121,482) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($99,482 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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