Loan Comparison: 4.04% vs 6.5%
3990 Marshall Street, Wheat Ridge, CO 80005 · 3bd/3ba · $590,000
List Price
$590,000
Assumable Rate
4.04%
Remaining Balance
$210,150
Equity Gap
$379,849
Loan Type
FHAAdjust Your Scenario
$29,500
$29,500$379,849
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (FHA)
Blended Rate: 6.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,543/moAssumable @ 4.04% + gap loan
$3,458/moAssumed loan: $1,008/mo
Gap financing: $2,450/mo
$85less per month with the assumable
Your Savings on This Property
3990 Marshall Street, Wheat Ridge · 4.04% FHA vs 6.5% conventional
$85
per month
$1,019
per year
$30,568
over 30 years
$30,567
interest saved
How gap financing works: The equity gap ($379,849) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,500, 5% of purchase price) and a second mortgage for the rest ($350,349 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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