Loan Comparison: 3.34% vs 6.5%
15525 La Salle, Lakewood, CO 80228 · 4bd/4ba · $895,000
List Price
$895,000
Assumable Rate
3.34%
Remaining Balance
$480,315
Equity Gap
$413,630
Loan Type
FHAAdjust Your Scenario
$44,750
$44,750$413,630
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,374/moAssumable @ 3.34% + gap loan
$4,951/moAssumed loan: $2,114/mo
Gap financing: $2,836/mo
$424less per month with the assumable
Your Savings on This Property
15525 La Salle, Lakewood · 3.34% FHA vs 6.5% conventional
$424
per month
$5,084
per year
$152,507
over 30 years
$151,452
interest saved
How gap financing works: The equity gap ($413,630) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,750, 5% of purchase price) and a second mortgage for the rest ($368,880 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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