Loan Comparison: 2.77% vs 6.5%
4500 Hoyt Street, Wheat Ridge, CO 80033 · 3bd/2ba · $850,000
List Price
$850,000
Assumable Rate
2.77%
Remaining Balance
$607,590
Equity Gap
$242,410
Loan Type
FHAAdjust Your Scenario
$42,500
$42,500$242,410
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 3.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.77% + gap loan
$3,885/moAssumed loan: $2,487/mo
Gap financing: $1,398/mo
$1,219less per month with the assumable
Your Savings on This Property
4500 Hoyt Street, Wheat Ridge · 2.77% FHA vs 6.5% conventional
$1,219
per month
$14,631
per year
$438,939
over 30 years
$438,939
interest saved
How gap financing works: The equity gap ($242,410) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($199,910 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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