Loan Comparison: 2.94% vs 6.5%
7944 Chase, Arvada, CO 80003 · 2bd/1ba · $275,000
List Price
$275,000
Assumable Rate
2.94%
Remaining Balance
$185,271
Equity Gap
$88,877
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$88,877
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 2.94% + gap loan
$1,353/moAssumed loan: $775/mo
Gap financing: $578/mo
$298less per month with the assumable
Your Savings on This Property
7944 Chase, Arvada · 2.94% FHA vs 6.5% conventional
$298
per month
$3,582
per year
$107,456
over 30 years
$106,604
interest saved
How gap financing works: The equity gap ($88,877) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($75,127 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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