Loan Comparison: 3.07% vs 6.5%
7181 Van Gordon, Arvada, CO 80004 · 4bd/3ba · $572,000
List Price
$572,000
Assumable Rate
3.07%
Remaining Balance
$440,262
Equity Gap
$129,862
Loan Type
FHAAdjust Your Scenario
$28,600
$28,600$129,862
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,435/moAssumable @ 3.07% + gap loan
$2,651/moAssumed loan: $1,873/mo
Gap financing: $779/mo
$783less per month with the assumable
Your Savings on This Property
7181 Van Gordon, Arvada · 3.07% FHA vs 6.5% conventional
$783
per month
$9,399
per year
$281,958
over 30 years
$280,082
interest saved
How gap financing works: The equity gap ($129,862) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,600, 5% of purchase price) and a second mortgage for the rest ($101,262 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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