Loan Comparison: 3.07% vs 6.5%
7181 Van Gordon, Arvada, CO 80004 · 4bd/3ba · $577,900
List Price
$577,900
Assumable Rate
3.07%
Remaining Balance
$442,137
Equity Gap
$135,762
Loan Type
FHAAdjust Your Scenario
$28,895
$28,895$135,762
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,470/moAssumable @ 3.07% + gap loan
$2,703/moAssumed loan: $1,881/mo
Gap financing: $822/mo
$768less per month with the assumable
Your Savings on This Property
7181 Van Gordon, Arvada · 3.07% FHA vs 6.5% conventional
$768
per month
$9,211
per year
$276,325
over 30 years
$276,324
interest saved
How gap financing works: The equity gap ($135,762) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,895, 5% of purchase price) and a second mortgage for the rest ($106,867 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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