Loan Comparison: 3.67% vs 6.5%
7875 87th Drive, Arvada, CO 80005 · 3bd/1ba · $310,000
List Price
$310,000
Assumable Rate
3.67%
Remaining Balance
$121,143
Equity Gap
$188,856
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$188,856
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 3.67% + gap loan
$1,768/moAssumed loan: $556/mo
Gap financing: $1,212/mo
$94less per month with the assumable
Your Savings on This Property
7875 87th Drive, Arvada · 3.67% FHA vs 6.5% conventional
$94
per month
$1,125
per year
$33,755
over 30 years
$33,754
interest saved
How gap financing works: The equity gap ($188,856) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($173,356 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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