Loan Comparison: 2.39% vs 6.5%
1606 Glen Bar, Lakewood, CO 80215 · 3bd/2ba · $850,000
List Price
$850,000
Assumable Rate
2.39%
Remaining Balance
$243,638
Equity Gap
$616,027
Loan Type
FHAAdjust Your Scenario
$42,500
$42,500$616,027
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (FHA)
Blended Rate: 6.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.39% + gap loan
$5,359/moAssumed loan: $949/mo
Gap financing: $4,410/mo
Your Savings on This Property
1606 Glen Bar, Lakewood · 2.39% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($616,027) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($573,527 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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