Loan Comparison: 4.2% vs 6.5%
965 Brentwood Street, Lakewood, CO 80214 · 2bd/1ba · $630,000
List Price
$630,000
Assumable Rate
4.2%
Remaining Balance
$341,389
Equity Gap
$288,610
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$288,610
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 4.2% + gap loan
$3,467/moAssumed loan: $1,669/mo
Gap financing: $1,798/mo
$316less per month with the assumable
Your Savings on This Property
965 Brentwood Street, Lakewood · 4.2% FHA vs 6.5% conventional
$316
per month
$3,789
per year
$113,661
over 30 years
$113,660
interest saved
How gap financing works: The equity gap ($288,610) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($257,110 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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