Loan Comparison: 4.63% vs 6.5%
7465 Kendall, Arvada, CO 80003 · 5bd/2ba · $515,000
List Price
$515,000
Assumable Rate
4.63%
Remaining Balance
$312,549
Equity Gap
$202,450
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$202,450
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.63% (FHA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 4.63% + gap loan
$2,967/moAssumed loan: $1,608/mo
Gap financing: $1,359/mo
$126less per month with the assumable
Your Savings on This Property
7465 Kendall, Arvada · 4.63% FHA vs 6.5% conventional
$126
per month
$1,510
per year
$45,306
over 30 years
$45,305
interest saved
How gap financing works: The equity gap ($202,450) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($176,700 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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