Loan Comparison: 5.22% vs 6.5%
7226 Zinnia, Arvada, CO 80005 · 3bd/2ba · $739,900
List Price
$739,900
Assumable Rate
5.22%
Remaining Balance
$523,965
Equity Gap
$214,421
Loan Type
FHAAdjust Your Scenario
$36,995
$36,995$214,421
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 5.22% + gap loan
$4,248/moAssumed loan: $2,884/mo
Gap financing: $1,364/mo
$195less per month with the assumable
Your Savings on This Property
7226 Zinnia, Arvada · 5.22% FHA vs 6.5% conventional
$195
per month
$2,340
per year
$70,185
over 30 years
$68,671
interest saved
How gap financing works: The equity gap ($214,421) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,995, 5% of purchase price) and a second mortgage for the rest ($177,426 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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