Loan Comparison: 2.94% vs 6.5%
7944 Chase, Arvada, CO 80003 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
2.94%
Remaining Balance
$184,417
Equity Gap
$83,877
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$83,877
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 2.94% + gap loan
$1,313/moAssumed loan: $772/mo
Gap financing: $541/mo
$309less per month with the assumable
Your Savings on This Property
7944 Chase, Arvada · 2.94% FHA vs 6.5% conventional
$309
per month
$3,703
per year
$111,082
over 30 years
$109,376
interest saved
How gap financing works: The equity gap ($83,877) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($70,377 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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