Loan Comparison: 3.75% vs 6.5%
6523 Welch Street, Arvada, CO 80004 · 2bd/1ba · $604,000
List Price
$604,000
Assumable Rate
3.75%
Remaining Balance
$18,053
Equity Gap
$585,946
Loan Type
FHAAdjust Your Scenario
$30,200
$30,200$585,946
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 7.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,627/moAssumable @ 3.75% + gap loan
$3,969/moAssumed loan: $84/mo
Gap financing: $3,886/mo
Your Savings on This Property
6523 Welch Street, Arvada · 3.75% 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 ($585,946) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,200, 5% of purchase price) and a second mortgage for the rest ($555,746 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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