Loan Comparison: 5.85% vs 6.5%
10480 Dartmouth, Lakewood, CO 80227 · 2bd/3ba · $350,000
List Price
$350,000
Assumable Rate
5.85%
Remaining Balance
$3,121
Equity Gap
$349,221
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$349,221
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.85% (FHA)
Blended Rate: 8.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 5.85% + gap loan
$2,569/moAssumed loan: $18/mo
Gap financing: $2,551/mo
Your Savings on This Property
10480 Dartmouth, Lakewood · 5.85% 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 ($349,221) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($331,721 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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