Loan Comparison: 6.05% vs 6.5%
11839 Atlantic Avenue, Lakewood, CO 80228 · 3bd/3ba · $779,000
List Price
$779,000
Assumable Rate
6.05%
Remaining Balance
$709,353
Equity Gap
$69,646
Loan Type
FHAAdjust Your Scenario
$38,950
$38,950$69,646
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.05% (FHA)
Blended Rate: 6.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,678/moAssumable @ 6.05% + gap loan
$4,490/moAssumed loan: $4,276/mo
Gap financing: $215/mo
$187less per month with the assumable
Your Savings on This Property
11839 Atlantic Avenue, Lakewood · 6.05% FHA vs 6.5% conventional
$187
per month
$2,247
per year
$67,403
over 30 years
$67,402
interest saved
How gap financing works: The equity gap ($69,646) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,950, 5% of purchase price) and a second mortgage for the rest ($30,696 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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