Loan Comparison: 2.39% vs 6.5%
1606 Glen Bar Drive, Lakewood, CO 80215 · 3bd/2ba · $799,000
List Price
$799,000
Assumable Rate
2.39%
Remaining Balance
$230,853
Equity Gap
$568,146
Loan Type
FHAAdjust Your Scenario
$39,950
$39,950$568,146
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (FHA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,798/moAssumable @ 2.39% + gap loan
$4,592/moAssumed loan: $899/mo
Gap financing: $3,693/mo
$205less per month with the assumable
Your Savings on This Property
1606 Glen Bar Drive, Lakewood · 2.39% FHA vs 6.5% conventional
$205
per month
$2,466
per year
$73,976
over 30 years
$73,975
interest saved
How gap financing works: The equity gap ($568,146) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,950, 5% of purchase price) and a second mortgage for the rest ($528,196 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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