Loan Comparison: 2.99% vs 6.5%
2102 Brentwood, Denver, CO 80227 · 4bd/2ba · $625,000
List Price
$625,000
Assumable Rate
2.99%
Remaining Balance
$316,057
Equity Gap
$308,943
Loan Type
FHAAdjust Your Scenario
$31,250
$31,250$308,943
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,753/moAssumable @ 2.99% + gap loan
$3,466/moAssumed loan: $1,331/mo
Gap financing: $2,135/mo
$287less per month with the assumable
Your Savings on This Property
2102 Brentwood, Denver · 2.99% FHA vs 6.5% conventional
$287
per month
$3,443
per year
$103,277
over 30 years
$103,277
interest saved
How gap financing works: The equity gap ($308,943) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,250, 5% of purchase price) and a second mortgage for the rest ($277,693 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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