Loan Comparison: 2.9% vs 6.5%
644 Xenon, Lakewood, CO 80228 · 3bd/2ba · $329,000
List Price
$329,000
Assumable Rate
2.9%
Remaining Balance
$181,527
Equity Gap
$147,472
Loan Type
FHAAdjust Your Scenario
$16,450
$16,450$147,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,976/moAssumable @ 2.9% + gap loan
$1,763/moAssumed loan: $756/mo
Gap financing: $1,007/mo
$213less per month with the assumable
Your Savings on This Property
644 Xenon, Lakewood · 2.9% FHA vs 6.5% conventional
$213
per month
$2,550
per year
$76,505
over 30 years
$76,504
interest saved
How gap financing works: The equity gap ($147,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,450, 5% of purchase price) and a second mortgage for the rest ($131,022 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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