Loan Comparison: 3.45% vs 6.5%
10879 Dartmouth Avenue, Lakewood, CO 80227 · 2bd/1ba · $363,900
List Price
$363,900
Assumable Rate
3.45%
Remaining Balance
$246,970
Equity Gap
$116,930
Loan Type
FHAAdjust Your Scenario
$18,195
$18,195$116,930
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,185/moAssumable @ 3.45% + gap loan
$1,792/moAssumed loan: $1,102/mo
Gap financing: $690/mo
$393less per month with the assumable
Your Savings on This Property
10879 Dartmouth Avenue, Lakewood · 3.45% FHA vs 6.5% conventional
$393
per month
$4,711
per year
$141,335
over 30 years
$141,335
interest saved
How gap financing works: The equity gap ($116,930) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,195, 5% of purchase price) and a second mortgage for the rest ($98,735 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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