Loan Comparison: 3.07% vs 6.5%
7181 Van Gordon, Arvada, CO 80004 · 4bd/3ba · $589,900
List Price
$589,900
Assumable Rate
3.07%
Remaining Balance
$442,138
Equity Gap
$147,762
Loan Type
FHAAdjust Your Scenario
$29,495
$29,495$147,762
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,542/moAssumable @ 3.07% + gap loan
$2,790/moAssumed loan: $1,881/mo
Gap financing: $909/mo
$752less per month with the assumable
Your Savings on This Property
7181 Van Gordon, Arvada · 3.07% FHA vs 6.5% conventional
$752
per month
$9,024
per year
$270,707
over 30 years
$270,707
interest saved
How gap financing works: The equity gap ($147,762) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,495, 5% of purchase price) and a second mortgage for the rest ($118,267 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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