Loan Comparison: 5.23% vs 6.5%
2117 Wadsworth, Lakewood, CO 80227 · 4bd/2ba · $450,000
List Price
$450,000
Assumable Rate
5.23%
Remaining Balance
$334,227
Equity Gap
$127,654
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$127,654
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 6.01%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 5.23% + gap loan
$2,650/moAssumed loan: $1,841/mo
Gap financing: $809/mo
$52less per month with the assumable
Your Savings on This Property
2117 Wadsworth, Lakewood · 5.23% FHA vs 6.5% conventional
$52
per month
$625
per year
$18,746
over 30 years
$30,627
interest saved
How gap financing works: The equity gap ($127,654) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($105,154 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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