Loan Comparison: 3.61% vs 6.5%
7309 Hampden, Lakewood, CO 80227 · 2bd/1ba · $245,000
List Price
$245,000
Assumable Rate
3.61%
Remaining Balance
$124,509
Equity Gap
$121,504
Loan Type
FHAAdjust Your Scenario
$12,250
$12,250$121,504
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 3.61% + gap loan
$1,407/moAssumed loan: $567/mo
Gap financing: $840/mo
$64less per month with the assumable
Your Savings on This Property
7309 Hampden, Lakewood · 3.61% FHA vs 6.5% conventional
$64
per month
$772
per year
$23,146
over 30 years
$24,159
interest saved
How gap financing works: The equity gap ($121,504) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($109,254 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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