Loan Comparison: 3.07% vs 6.5%
1042 Holland, Lakewood, CO 80226 · 4bd/3ba · $635,000
List Price
$635,000
Assumable Rate
3.07%
Remaining Balance
$443,887
Equity Gap
$195,708
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$195,708
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 3.07% + gap loan
$3,149/moAssumed loan: $1,888/mo
Gap financing: $1,261/mo
$664less per month with the assumable
Your Savings on This Property
1042 Holland, Lakewood · 3.07% FHA vs 6.5% conventional
$664
per month
$7,968
per year
$239,044
over 30 years
$243,639
interest saved
How gap financing works: The equity gap ($195,708) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($163,958 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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