Loan Comparison: 3.8% vs 6.5%
10625 Dartmouth, Lakewood, CO 80227 · 3bd/2ba · $361,000
List Price
$361,000
Assumable Rate
3.8%
Remaining Balance
$244,326
Equity Gap
$116,673
Loan Type
FHAAdjust Your Scenario
$18,050
$18,050$116,673
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,168/moAssumable @ 3.8% + gap loan
$1,897/moAssumed loan: $1,138/mo
Gap financing: $758/mo
$271less per month with the assumable
Your Savings on This Property
10625 Dartmouth, Lakewood · 3.8% FHA vs 6.5% conventional
$271
per month
$3,251
per year
$97,523
over 30 years
$97,522
interest saved
How gap financing works: The equity gap ($116,673) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,050, 5% of purchase price) and a second mortgage for the rest ($98,623 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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