Loan Comparison: 3.61% vs 6.5%
8395 64th Avenue, Arvada, CO 80004 · 2bd/1ba · $585,000
List Price
$585,000
Assumable Rate
3.61%
Remaining Balance
$387,075
Equity Gap
$197,924
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$197,924
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 4.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.61% + gap loan
$2,941/moAssumed loan: $1,762/mo
Gap financing: $1,179/mo
$571less per month with the assumable
Your Savings on This Property
8395 64th Avenue, Arvada · 3.61% FHA vs 6.5% conventional
$571
per month
$6,856
per year
$205,679
over 30 years
$205,678
interest saved
How gap financing works: The equity gap ($197,924) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($168,674 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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