Loan Comparison: 3.8% vs 6.5%
747 Depew, Lakewood, CO 80226 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.8%
Remaining Balance
$98,692
Equity Gap
$301,308
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$301,308
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 7.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.8% + gap loan
$2,623/moAssumed loan: $460/mo
Gap financing: $2,163/mo
Your Savings on This Property
747 Depew, Lakewood · 3.8% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($301,308) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($281,308 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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