Loan Comparison: 4.57% vs 6.5%
473 Balsam, Lakewood, CO 80226 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
4.57%
Remaining Balance
$244,180
Equity Gap
$155,820
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$155,820
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.57% + gap loan
$2,292/moAssumed loan: $1,247/mo
Gap financing: $1,044/mo
$110less per month with the assumable
Your Savings on This Property
473 Balsam, Lakewood · 4.57% FHA vs 6.5% conventional
$110
per month
$1,321
per year
$39,643
over 30 years
$39,643
interest saved
How gap financing works: The equity gap ($155,820) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($135,820 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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