Loan Comparison: 3.08% vs 6.5%
4768 Dover, Wheat Ridge, CO 80033 · 3bd/2ba · $530,000
List Price
$530,000
Assumable Rate
3.08%
Remaining Balance
$369,605
Equity Gap
$159,589
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$159,589
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 3.08% + gap loan
$2,598/moAssumed loan: $1,574/mo
Gap financing: $1,023/mo
$585less per month with the assumable
Your Savings on This Property
4768 Dover, Wheat Ridge · 3.08% FHA vs 6.5% conventional
$585
per month
$7,018
per year
$210,550
over 30 years
$209,744
interest saved
How gap financing works: The equity gap ($159,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($133,089 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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