Loan Comparison: 5.52% vs 6.5%
7980 Chase, Arvada, CO 80003 · 2bd/2ba · $240,000
List Price
$240,000
Assumable Rate
5.52%
Remaining Balance
$222,231
Equity Gap
$17,769
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$17,769
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 5.52% + gap loan
$1,309/moAssumed loan: $1,265/mo
Gap financing: $44/mo
$132less per month with the assumable
Your Savings on This Property
7980 Chase, Arvada · 5.52% FHA vs 6.5% conventional
$132
per month
$1,586
per year
$47,579
over 30 years
$47,579
interest saved
How gap financing works: The equity gap ($17,769) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($5,769 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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