Loan Comparison: 2.93% vs 6.5%
4840 30th, Denver, CO 80212 · 3bd/2ba · $800,000
List Price
$800,000
Assumable Rate
2.93%
Remaining Balance
$83,384
Equity Gap
$711,164
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$711,164
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.93% (FHA)
Blended Rate: 7.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.93% + gap loan
$5,509/moAssumed loan: $348/mo
Gap financing: $5,161/mo
Your Savings on This Property
4840 30th, Denver · 2.93% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($711,164) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($671,164 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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