Loan Comparison: 4.71% vs 6.5%
8276 Jellison Court, Arvada, CO 80005 · 2bd/2ba · $610,000
List Price
$610,000
Assumable Rate
4.71%
Remaining Balance
$552,822
Equity Gap
$57,177
Loan Type
FHAAdjust Your Scenario
$30,500
$30,500$57,177
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.71% (FHA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 4.71% + gap loan
$3,057/moAssumed loan: $2,870/mo
Gap financing: $187/mo
$606less per month with the assumable
Your Savings on This Property
8276 Jellison Court, Arvada · 4.71% FHA vs 6.5% conventional
$606
per month
$7,270
per year
$218,101
over 30 years
$218,100
interest saved
How gap financing works: The equity gap ($57,177) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($26,677 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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