Loan Comparison: 3.45% vs 6.5%
8528 Fenton, Arvada, CO 80003 · 4bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.45%
Remaining Balance
$358,130
Equity Gap
$191,870
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$191,870
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.45% + gap loan
$2,862/moAssumed loan: $1,598/mo
Gap financing: $1,264/mo
$441less per month with the assumable
Your Savings on This Property
8528 Fenton, Arvada · 3.45% FHA vs 6.5% conventional
$441
per month
$5,286
per year
$158,583
over 30 years
$158,583
interest saved
How gap financing works: The equity gap ($191,870) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($164,370 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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