Loan Comparison: 2.81% vs 6.5%
15808 83rd Avenue, Arvada, CO 80226 · 3bd/2ba · $1,175,000
List Price
$1,175,000
Assumable Rate
2.81%
Remaining Balance
$492,889
Equity Gap
$682,111
Loan Type
FHAAdjust Your Scenario
$58,750
$58,750$682,111
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,055/moAssumable @ 2.81% + gap loan
$6,387/moAssumed loan: $2,028/mo
Gap financing: $4,359/mo
$669less per month with the assumable
Your Savings on This Property
15808 83rd Avenue, Arvada · 2.81% FHA vs 6.5% conventional
$669
per month
$8,027
per year
$240,823
over 30 years
$240,823
interest saved
How gap financing works: The equity gap ($682,111) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($58,750, 5% of purchase price) and a second mortgage for the rest ($623,361 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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