Loan Comparison: 3.72% vs 6.5%
8749 Cornell Avenue, Lakewood, CO 80227 · 4bd/4ba · $359,900
List Price
$359,900
Assumable Rate
3.72%
Remaining Balance
$192,306
Equity Gap
$167,594
Loan Type
FHAAdjust Your Scenario
$17,995
$17,995$167,594
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,161/moAssumable @ 3.72% + gap loan
$1,933/moAssumed loan: $887/mo
Gap financing: $1,046/mo
$228less per month with the assumable
Your Savings on This Property
8749 Cornell Avenue, Lakewood · 3.72% FHA vs 6.5% conventional
$228
per month
$2,733
per year
$81,981
over 30 years
$81,981
interest saved
How gap financing works: The equity gap ($167,594) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,995, 5% of purchase price) and a second mortgage for the rest ($149,599 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.
🏠
Back to This Listing
View photos, details, and request a showing for 8749 Cornell Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.