Loan Comparison: 5.22% vs 6.5%
7226 Zinnia, Arvada, CO 80005 · 3bd/2ba · $765,000
List Price
$765,000
Assumable Rate
5.22%
Remaining Balance
$525,478
Equity Gap
$239,521
Loan Type
FHAAdjust Your Scenario
$38,250
$38,250$239,521
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,594/moAssumable @ 5.22% + gap loan
$4,440/moAssumed loan: $2,892/mo
Gap financing: $1,548/mo
$154less per month with the assumable
Your Savings on This Property
7226 Zinnia, Arvada · 5.22% FHA vs 6.5% conventional
$154
per month
$1,848
per year
$55,441
over 30 years
$55,440
interest saved
How gap financing works: The equity gap ($239,521) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,250, 5% of purchase price) and a second mortgage for the rest ($201,271 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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