Loan Comparison: 3.47% vs 6.5%
7240 Custer, Lakewood, CO 80226 · 1bd/1ba · $325,000
List Price
$325,000
Assumable Rate
3.47%
Remaining Balance
$200,843
Equity Gap
$124,157
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$124,157
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.47% + gap loan
$1,728/moAssumed loan: $899/mo
Gap financing: $830/mo
$223less per month with the assumable
Your Savings on This Property
7240 Custer, Lakewood · 3.47% FHA vs 6.5% conventional
$223
per month
$2,679
per year
$80,382
over 30 years
$80,382
interest saved
How gap financing works: The equity gap ($124,157) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($107,907 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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