Loan Comparison: 3.45% vs 6.5%
8786 Allison, Arvada, CO 80005 · 2bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.45%
Remaining Balance
$379,683
Equity Gap
$45,600
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$45,600
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.45% + gap loan
$1,891/moAssumed loan: $1,694/mo
Gap financing: $197/mo
$511less per month with the assumable
Your Savings on This Property
8786 Allison, Arvada · 3.45% FHA vs 6.5% conventional
$511
per month
$6,128
per year
$183,834
over 30 years
$209,117
interest saved
How gap financing works: The equity gap ($45,600) 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 ($25,600 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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