Loan Comparison: 3.58% vs 6.5%
3720 99th, Denver, CO 80229 · 3bd/2ba · $470,000
List Price
$470,000
Assumable Rate
3.58%
Remaining Balance
$293,498
Equity Gap
$176,502
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$176,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.58% (FHA)
Blended Rate: 5.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.58% + gap loan
$2,508/moAssumed loan: $1,331/mo
Gap financing: $1,176/mo
$315less per month with the assumable
Your Savings on This Property
3720 99th, Denver · 3.58% FHA vs 6.5% conventional
$315
per month
$3,776
per year
$113,275
over 30 years
$113,275
interest saved
How gap financing works: The equity gap ($176,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($153,002 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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