Loan Comparison: 3.08% vs 6.5%
2036 Balsam, Lakewood, CO 80227 · 2bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.08%
Remaining Balance
$260,434
Equity Gap
$154,003
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$154,003
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.08% + gap loan
$2,134/moAssumed loan: $1,109/mo
Gap financing: $1,025/mo
$358less per month with the assumable
Your Savings on This Property
2036 Balsam, Lakewood · 3.08% FHA vs 6.5% conventional
$358
per month
$4,297
per year
$128,901
over 30 years
$128,338
interest saved
How gap financing works: The equity gap ($154,003) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($133,253 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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