Loan Comparison: 4.22% vs 6.5%
3250 Holland Street, Wheat Ridge, CO 80033 · 3bd/2ba · $723,000
List Price
$723,000
Assumable Rate
4.22%
Remaining Balance
$66,249
Equity Gap
$656,751
Loan Type
FHAAdjust Your Scenario
$36,150
$36,150$656,751
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.22% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,341/moAssumable @ 4.22% + gap loan
$4,664/moAssumed loan: $325/mo
Gap financing: $4,339/mo
Your Savings on This Property
3250 Holland Street, Wheat Ridge · 4.22% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($656,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,150, 5% of purchase price) and a second mortgage for the rest ($620,601 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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