Loan Comparison: 3.31% vs 6.5%
8305 Moore, Arvada, CO 80005 · 3bd/4ba · $569,900
List Price
$569,900
Assumable Rate
3.31%
Remaining Balance
$436,580
Equity Gap
$138,601
Loan Type
FHAAdjust Your Scenario
$28,495
$28,495$138,601
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,422/moAssumable @ 3.31% + gap loan
$2,761/moAssumed loan: $1,914/mo
Gap financing: $847/mo
$661less per month with the assumable
Your Savings on This Property
8305 Moore, Arvada · 3.31% FHA vs 6.5% conventional
$661
per month
$7,932
per year
$237,959
over 30 years
$243,240
interest saved
How gap financing works: The equity gap ($138,601) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,495, 5% of purchase price) and a second mortgage for the rest ($110,106 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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