Loan Comparison: 3.08% vs 6.5%
4768 Dover, Wheat Ridge, CO 80033 · 3bd/2ba · $540,000
List Price
$540,000
Assumable Rate
3.08%
Remaining Balance
$369,605
Equity Gap
$170,395
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$170,395
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 3.08% + gap loan
$2,677/moAssumed loan: $1,574/mo
Gap financing: $1,103/mo
$566less per month with the assumable
Your Savings on This Property
4768 Dover, Wheat Ridge · 3.08% FHA vs 6.5% conventional
$566
per month
$6,788
per year
$203,639
over 30 years
$203,639
interest saved
How gap financing works: The equity gap ($170,395) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($143,395 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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