Loan Comparison: 3.16% vs 6.5%
3415 Ammons, Lakewood, CO 80227 · 2bd/3ba · $365,000
List Price
$365,000
Assumable Rate
3.16%
Remaining Balance
$269,611
Equity Gap
$97,193
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$97,193
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.16% + gap loan
$1,767/moAssumed loan: $1,160/mo
Gap financing: $607/mo
$425less per month with the assumable
Your Savings on This Property
3415 Ammons, Lakewood · 3.16% FHA vs 6.5% conventional
$425
per month
$5,095
per year
$152,858
over 30 years
$154,662
interest saved
How gap financing works: The equity gap ($97,193) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($78,943 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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