Loan Comparison: 3.02% vs 6.5%
1250 Saulsbury, Lakewood, CO 80214 · 3bd/2ba · $499,900
List Price
$499,900
Assumable Rate
3.02%
Remaining Balance
$365,123
Equity Gap
$133,935
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$133,935
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 3.02% + gap loan
$2,381/moAssumed loan: $1,543/mo
Gap financing: $838/mo
$621less per month with the assumable
Your Savings on This Property
1250 Saulsbury, Lakewood · 3.02% FHA vs 6.5% conventional
$621
per month
$7,449
per year
$223,471
over 30 years
$222,629
interest saved
How gap financing works: The equity gap ($133,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($108,940 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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