Loan Comparison: 3.72% vs 6.5%
8749 Cornell, Denver, CO 80227 · 2bd/2ba · $359,900
List Price
$359,900
Assumable Rate
3.72%
Remaining Balance
$192,728
Equity Gap
$167,172
Loan Type
FHAAdjust Your Scenario
$17,995
$17,995$167,172
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.72% + gap loan
$2,036/moAssumed loan: $889/mo
Gap financing: $1,147/mo
$125less per month with the assumable
Your Savings on This Property
8749 Cornell, Denver · 3.72% FHA vs 6.5% conventional
$125
per month
$1,497
per year
$44,912
over 30 years
$44,912
interest saved
How gap financing works: The equity gap ($167,172) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($149,177 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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