Loan Comparison: 2.96% vs 6.5%
12360 Nevada, Lakewood, CO 80228 · 2bd/2ba · $289,900
List Price
$289,900
Assumable Rate
2.96%
Remaining Balance
$257,721
Equity Gap
$57,179
Loan Type
FHAAdjust Your Scenario
$14,495
$14,495$57,179
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 2.96% + gap loan
$1,409/moAssumed loan: $1,081/mo
Gap financing: $328/mo
$332less per month with the assumable
Your Savings on This Property
12360 Nevada, Lakewood · 2.96% FHA vs 6.5% conventional
$332
per month
$3,978
per year
$119,352
over 30 years
$144,352
interest saved
How gap financing works: The equity gap ($57,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,495, 5% of purchase price) and a second mortgage for the rest ($42,684 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.
🏠
Back to This Listing
View photos, details, and request a showing for 12360 Nevada.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.