Loan Comparison: 2.9% vs 6.5%
15296 66th, Arvada, CO 80007 · 3bd/3ba · $560,000
List Price
$560,000
Assumable Rate
2.9%
Remaining Balance
$484,491
Equity Gap
$75,508
Loan Type
FHAAdjust Your Scenario
$28,000
$28,000$75,508
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 2.9% + gap loan
$2,382/moAssumed loan: $2,017/mo
Gap financing: $365/mo
$981less per month with the assumable
Your Savings on This Property
15296 66th, Arvada · 2.9% FHA vs 6.5% conventional
$981
per month
$11,769
per year
$353,055
over 30 years
$353,054
interest saved
How gap financing works: The equity gap ($75,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($47,508 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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