Loan Comparison: 6.6% vs 6.5%
961 Kendall Street, Lakewood, CO 80214 · 3bd/2ba · $599,900
List Price
$599,900
Assumable Rate
6.6%
Remaining Balance
$354,170
Equity Gap
$245,730
Loan Type
FHAAdjust Your Scenario
$29,995
$29,995$245,730
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.6% (FHA)
Blended Rate: 6.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 6.6% + gap loan
$3,770/moAssumed loan: $2,262/mo
Gap financing: $1,508/mo
Your Savings on This Property
961 Kendall Street, Lakewood · 6.6% 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 ($245,730) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($215,735 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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