Loan Comparison: 5.625% vs 6.5%
6855 84th Way, Arvada, CO 80003 · 4bd/2ba · $325,000
List Price
$325,000
Assumable Rate
5.625%
Remaining Balance
$279,749
Equity Gap
$45,250
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$45,250
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.625% (FHA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 5.625% + gap loan
$1,813/moAssumed loan: $1,610/mo
Gap financing: $203/mo
$138less per month with the assumable
Your Savings on This Property
6855 84th Way, Arvada · 5.625% FHA vs 6.5% conventional
$138
per month
$1,660
per year
$49,804
over 30 years
$49,803
interest saved
How gap financing works: The equity gap ($45,250) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($29,000 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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