Loan Comparison: 2.66% vs 6.5%
6436 Iris, Arvada, CO 80004 · 4bd/3ba · $560,000
List Price
$560,000
Assumable Rate
2.66%
Remaining Balance
$122,622
Equity Gap
$440,148
Loan Type
FHAAdjust Your Scenario
$28,000
$28,000$440,148
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.66% (FHA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 2.66% + gap loan
$3,664/moAssumed loan: $495/mo
Gap financing: $3,169/mo
Your Savings on This Property
6436 Iris, Arvada · 2.66% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($440,148) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($412,148 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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