Loan Comparison: 2.77% vs 6.5%
4500 Hoyt, Wheat Ridge, CO 80033 · 7bd/3ba · $850,000
List Price
$850,000
Assumable Rate
2.77%
Remaining Balance
$611,889
Equity Gap
$238,111
Loan Type
FHAAdjust Your Scenario
$42,500
$42,500$238,111
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.77% + gap loan
$4,009/moAssumed loan: $2,504/mo
Gap financing: $1,504/mo
$1,095less per month with the assumable
Your Savings on This Property
4500 Hoyt, Wheat Ridge · 2.77% FHA vs 6.5% conventional
$1,095
per month
$13,145
per year
$394,344
over 30 years
$394,344
interest saved
How gap financing works: The equity gap ($238,111) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($195,611 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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