Loan Comparison: 6.86% vs 6.5%
7136 Otis Street, Arvada, CO 80003 · 4bd/3ba · $510,000
List Price
$510,000
Assumable Rate
6.86%
Remaining Balance
$446,230
Equity Gap
$63,769
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$63,769
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.86% (FHA)
Blended Rate: 6.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 6.86% + gap loan
$3,195/moAssumed loan: $2,927/mo
Gap financing: $268/mo
Your Savings on This Property
7136 Otis Street, Arvada · 6.86% 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 ($63,769) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($38,269 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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