Loan Comparison: 4.98% vs 6.5%
16998 73rd, Arvada, CO 80007 · 3bd/3ba · $849,900
List Price
$849,900
Assumable Rate
4.98%
Remaining Balance
$586,656
Equity Gap
$265,020
Loan Type
FHAAdjust Your Scenario
$42,495
$42,495$265,020
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 4.98% + gap loan
$4,853/moAssumed loan: $3,142/mo
Gap financing: $1,711/mo
$250less per month with the assumable
Your Savings on This Property
16998 73rd, Arvada · 4.98% FHA vs 6.5% conventional
$250
per month
$3,002
per year
$90,070
over 30 years
$91,846
interest saved
How gap financing works: The equity gap ($265,020) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($222,525 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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