Loan Comparison: 5.23% vs 6.5%
2117 Wadsworth, Lakewood, CO 80227 · 4bd/2ba · $475,000
List Price
$475,000
Assumable Rate
5.23%
Remaining Balance
$322,346
Equity Gap
$152,183
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$152,183
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 5.23% + gap loan
$2,764/moAssumed loan: $1,776/mo
Gap financing: $988/mo
$89less per month with the assumable
Your Savings on This Property
2117 Wadsworth, Lakewood · 5.23% FHA vs 6.5% conventional
$89
per month
$1,064
per year
$31,915
over 30 years
$31,444
interest saved
How gap financing works: The equity gap ($152,183) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($128,433 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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