Loan Comparison: 3.47% vs 6.5%
9370 Mexico Avenue, Lakewood, CO 80232 · 2bd/2ba · $540,000
List Price
$540,000
Assumable Rate
3.47%
Remaining Balance
$209,600
Equity Gap
$330,400
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$330,400
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 5.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.47% + gap loan
$3,059/moAssumed loan: $938/mo
Gap financing: $2,121/mo
$183less per month with the assumable
Your Savings on This Property
9370 Mexico Avenue, Lakewood · 3.47% FHA vs 6.5% conventional
$183
per month
$2,201
per year
$66,024
over 30 years
$66,024
interest saved
How gap financing works: The equity gap ($330,400) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($303,400 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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