Loan Comparison: 6.27% vs 6.5%
7280 Lamar Court, Arvada, CO 80003 · 3bd/1ba · $650,000
List Price
$650,000
Assumable Rate
6.27%
Remaining Balance
$555,372
Equity Gap
$94,628
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$94,628
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (FHA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 6.27% + gap loan
$3,861/moAssumed loan: $3,427/mo
Gap financing: $434/mo
$42less per month with the assumable
Your Savings on This Property
7280 Lamar Court, Arvada · 6.27% FHA vs 6.5% conventional
$42
per month
$502
per year
$15,071
over 30 years
$15,071
interest saved
How gap financing works: The equity gap ($94,628) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($62,128 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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