Loan Comparison: 2.99% vs 6.5%
8237 54th, Arvada, CO 80002 · 3bd/3ba · $485,000
List Price
$485,000
Assumable Rate
2.99%
Remaining Balance
$330,508
Equity Gap
$154,492
Loan Type
FHAAdjust Your Scenario
$24,250
$24,250$154,492
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 4.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 2.99% + gap loan
$2,393/moAssumed loan: $1,392/mo
Gap financing: $1,001/mo
$519less per month with the assumable
Your Savings on This Property
8237 54th, Arvada · 2.99% FHA vs 6.5% conventional
$519
per month
$6,230
per year
$186,895
over 30 years
$186,895
interest saved
How gap financing works: The equity gap ($154,492) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($130,242 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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