Loan Comparison: 5.38% vs 6.5%
9604 Kentucky, Lakewood, CO 80226 · 4bd/2ba · $535,000
List Price
$535,000
Assumable Rate
5.38%
Remaining Balance
$91,232
Equity Gap
$443,768
Loan Type
FHAAdjust Your Scenario
$26,750
$26,750$443,768
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.38% (FHA)
Blended Rate: 7.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 5.38% + gap loan
$3,718/moAssumed loan: $511/mo
Gap financing: $3,207/mo
Your Savings on This Property
9604 Kentucky, Lakewood · 5.38% 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 ($443,768) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($417,018 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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