Loan Comparison: 3.07% vs 6.5%
7181 Van Gordon Street, Arvada, CO 80004 · 2bd/1ba · $565,000
List Price
$565,000
Assumable Rate
3.07%
Remaining Balance
$437,431
Equity Gap
$127,568
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$127,568
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.07% + gap loan
$2,555/moAssumed loan: $1,861/mo
Gap financing: $694/mo
$837less per month with the assumable
Your Savings on This Property
7181 Van Gordon Street, Arvada · 3.07% FHA vs 6.5% conventional
$837
per month
$10,049
per year
$301,463
over 30 years
$301,462
interest saved
How gap financing works: The equity gap ($127,568) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($99,318 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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