Loan Comparison: 3.47% vs 6.5%
7240 Custer Avenue, Lakewood, CO 80226 · 2bd/1ba · $325,000
List Price
$325,000
Assumable Rate
3.47%
Remaining Balance
$200,282
Equity Gap
$124,718
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$124,718
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.47% + gap loan
$1,654/moAssumed loan: $896/mo
Gap financing: $758/mo
$297less per month with the assumable
Your Savings on This Property
7240 Custer Avenue, Lakewood · 3.47% FHA vs 6.5% conventional
$297
per month
$3,565
per year
$106,949
over 30 years
$106,949
interest saved
How gap financing works: The equity gap ($124,718) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($108,468 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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