Loan Comparison: 5.41% vs 6.5%
5370 Nolan Street, Arvada, CO 80002 · 4bd/2ba · $600,000
List Price
$600,000
Assumable Rate
5.41%
Remaining Balance
$491,388
Equity Gap
$108,611
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$108,611
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 5.41% + gap loan
$3,312/moAssumed loan: $2,762/mo
Gap financing: $550/mo
$291less per month with the assumable
Your Savings on This Property
5370 Nolan Street, Arvada · 5.41% FHA vs 6.5% conventional
$291
per month
$3,489
per year
$104,675
over 30 years
$104,674
interest saved
How gap financing works: The equity gap ($108,611) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($78,611 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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