Loan Comparison: 3.15% vs 6.5%
4426 Durham, Denver, CO 80239 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.15%
Remaining Balance
$324,144
Equity Gap
$139,045
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$139,045
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.15% (FHA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.15% + gap loan
$2,289/moAssumed loan: $1,393/mo
Gap financing: $896/mo
$413less per month with the assumable
Your Savings on This Property
4426 Durham, Denver · 3.15% FHA vs 6.5% conventional
$413
per month
$4,956
per year
$148,678
over 30 years
$161,867
interest saved
How gap financing works: The equity gap ($139,045) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($116,545 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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