Loan Comparison: 3.9% vs 6.5%
6550 14th, Lakewood, CO 80214 · 2bd/1ba · $200,000
List Price
$200,000
Assumable Rate
3.9%
Remaining Balance
$139,357
Equity Gap
$59,587
Loan Type
FHAAdjust Your Scenario
$10,000
$10,000$59,587
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,201/moAssumable @ 3.9% + gap loan
$1,039/moAssumed loan: $657/mo
Gap financing: $381/mo
$162less per month with the assumable
Your Savings on This Property
6550 14th, Lakewood · 3.9% FHA vs 6.5% conventional
$162
per month
$1,948
per year
$58,444
over 30 years
$57,388
interest saved
How gap financing works: The equity gap ($59,587) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,000, 5% of purchase price) and a second mortgage for the rest ($49,587 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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