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
$483,435
Equity Gap
$74,454
Loan Type
FHAAdjust Your Scenario
$28,000
$28,000$74,454
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 2.9% + gap loan
$2,369/moAssumed loan: $2,012/mo
Gap financing: $357/mo
$993less per month with the assumable
Your Savings on This Property
15296 66th, Arvada · 2.9% FHA vs 6.5% conventional
$993
per month
$11,919
per year
$357,555
over 30 years
$355,444
interest saved
How gap financing works: The equity gap ($74,454) 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 ($46,454 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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