Loan Comparison: 4.1% vs 6.5%
6120 Arkansas Avenue, Lakewood, CO 80232 · 2bd/1ba · $514,900
List Price
$514,900
Assumable Rate
4.1%
Remaining Balance
$291,438
Equity Gap
$223,462
Loan Type
FHAAdjust Your Scenario
$25,745
$25,745$223,462
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.1% (FHA)
Blended Rate: 5.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.1% + gap loan
$2,791/moAssumed loan: $1,408/mo
Gap financing: $1,382/mo
$301less per month with the assumable
Your Savings on This Property
6120 Arkansas Avenue, Lakewood · 4.1% FHA vs 6.5% conventional
$301
per month
$3,613
per year
$108,397
over 30 years
$108,397
interest saved
How gap financing works: The equity gap ($223,462) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,745, 5% of purchase price) and a second mortgage for the rest ($197,717 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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