Loan Comparison: 7% vs 6.5%
8752 Pierce Way, Arvada, CO 80003 · 1bd/1ba · $199,900
List Price
$199,900
Assumable Rate
7%
Remaining Balance
$44,703
Equity Gap
$155,196
Loan Type
FHAAdjust Your Scenario
$9,995
$9,995$155,196
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7% (FHA)
Blended Rate: 7.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 7% + gap loan
$1,313/moAssumed loan: $297/mo
Gap financing: $1,015/mo
Your Savings on This Property
8752 Pierce Way, Arvada · 7% 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 ($155,196) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,995, 5% of purchase price) and a second mortgage for the rest ($145,201 at 7.5%). 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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