Loan Comparison: 3.1% vs 6.5%
12590 84th, Arvada, CO 80005 · 4bd/4ba · $750,000
List Price
$750,000
Assumable Rate
3.1%
Remaining Balance
$292,957
Equity Gap
$457,043
Loan Type
FHAAdjust Your Scenario
$37,500
$37,500$457,043
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.1% + gap loan
$4,477/moAssumed loan: $1,251/mo
Gap financing: $3,226/mo
$27less per month with the assumable
Your Savings on This Property
12590 84th, Arvada · 3.1% FHA vs 6.5% conventional
$27
per month
$319
per year
$9,572
over 30 years
$9,572
interest saved
How gap financing works: The equity gap ($457,043) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($419,543 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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