Loan Comparison: 6.87% vs 6.5%
14586 91st Avenue, Arvada, CO 80005 · 1bd/1ba · $424,900
List Price
$424,900
Assumable Rate
6.87%
Remaining Balance
$382,038
Equity Gap
$42,861
Loan Type
FHAAdjust Your Scenario
$21,245
$21,245$42,861
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.87% (FHA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 6.87% + gap loan
$2,660/moAssumed loan: $2,508/mo
Gap financing: $151/mo
Your Savings on This Property
14586 91st Avenue, Arvada · 6.87% 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 ($42,861) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($21,616 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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