Loan Comparison: 3.72% vs 6.5%
16908 86th, Arvada, CO 80007 · 3bd/3ba · $794,900
List Price
$794,900
Assumable Rate
3.72%
Remaining Balance
$355,820
Equity Gap
$431,410
Loan Type
FHAAdjust Your Scenario
$39,745
$39,745$431,410
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,773/moAssumable @ 3.72% + gap loan
$4,653/moAssumed loan: $1,642/mo
Gap financing: $3,012/mo
$120less per month with the assumable
Your Savings on This Property
16908 86th, Arvada · 3.72% FHA vs 6.5% conventional
$120
per month
$1,437
per year
$43,100
over 30 years
$35,430
interest saved
How gap financing works: The equity gap ($431,410) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,745, 5% of purchase price) and a second mortgage for the rest ($391,665 at 8.5%). 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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