Loan Comparison: 3.77% vs 6.5%
9762 Cornell, Lakewood, CO 80227 · 2bd/3ba · $320,000
List Price
$320,000
Assumable Rate
3.77%
Remaining Balance
$147,895
Equity Gap
$193,228
Loan Type
FHAAdjust Your Scenario
$16,000
$16,000$193,228
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.77% + gap loan
$2,049/moAssumed loan: $687/mo
Gap financing: $1,363/mo
Your Savings on This Property
9762 Cornell, Lakewood · 3.77% 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 ($193,228) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($177,228 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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