Loan Comparison: 4.72% vs 6.5%
12935 64th Drive, Arvada, CO 80229 · 4bd/1ba · $379,000
List Price
$379,000
Assumable Rate
4.72%
Remaining Balance
$299,812
Equity Gap
$79,187
Loan Type
FHAAdjust Your Scenario
$18,950
$18,950$79,187
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.72% (FHA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 4.72% + gap loan
$1,980/moAssumed loan: $1,559/mo
Gap financing: $421/mo
$296less per month with the assumable
Your Savings on This Property
12935 64th Drive, Arvada · 4.72% FHA vs 6.5% conventional
$296
per month
$3,552
per year
$106,571
over 30 years
$106,570
interest saved
How gap financing works: The equity gap ($79,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($60,237 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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