Loan Comparison: 3.71% vs 6.5%
7924 Chase, Arvada, CO 80003 · 2bd/1ba · $255,000
List Price
$255,000
Assumable Rate
3.71%
Remaining Balance
$98,111
Equity Gap
$157,756
Loan Type
FHAAdjust Your Scenario
$12,750
$12,750$157,756
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.71% (FHA)
Blended Rate: 6.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,531/moAssumable @ 3.71% + gap loan
$1,567/moAssumed loan: $452/mo
Gap financing: $1,115/mo
Your Savings on This Property
7924 Chase, Arvada · 3.71% 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 ($157,756) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,750, 5% of purchase price) and a second mortgage for the rest ($145,006 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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