Loan Comparison: 3.8% vs 6.5%
747 Depew, Lakewood, CO 80226 · 3bd/3ba · $425,000
List Price
$425,000
Assumable Rate
3.8%
Remaining Balance
$99,421
Equity Gap
$325,578
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$325,578
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 7.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.8% + gap loan
$2,803/moAssumed loan: $463/mo
Gap financing: $2,340/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 ($325,578) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($304,328 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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