Loan Comparison: 4.27% vs 6.5%
13503 Virginia, Lakewood, CO 80228 · 3bd/4ba · $950,000
List Price
$950,000
Assumable Rate
4.27%
Remaining Balance
$277,479
Equity Gap
$738,421
Loan Type
FHAAdjust Your Scenario
$47,500
$47,500$738,421
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 7.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 4.27% + gap loan
$6,681/moAssumed loan: $1,368/mo
Gap financing: $5,313/mo
Your Savings on This Property
13503 Virginia, Lakewood · 4.27% 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 ($738,421) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($690,921 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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