Loan Comparison: 2.9% vs 6.5%
644 Xenon, Lakewood, CO 80228 · 3bd/2ba · $335,000
List Price
$335,000
Assumable Rate
2.9%
Remaining Balance
$232,710
Equity Gap
$153,472
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$153,472
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 2.9% + gap loan
$2,020/moAssumed loan: $969/mo
Gap financing: $1,051/mo
Your Savings on This Property
644 Xenon, Lakewood · 2.9% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$48,185
interest saved
How gap financing works: The equity gap ($153,472) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($136,722 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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