Loan Comparison: 3.61% vs 6.5%
8395 64th, Arvada, CO 80004 · 5bd/3ba · $665,000
List Price
$665,000
Assumable Rate
3.61%
Remaining Balance
$439,667
Equity Gap
$275,291
Loan Type
FHAAdjust Your Scenario
$33,250
$33,250$275,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3.61% + gap loan
$3,862/moAssumed loan: $2,001/mo
Gap financing: $1,861/mo
$131less per month with the assumable
Your Savings on This Property
8395 64th, Arvada · 3.61% FHA vs 6.5% conventional
$131
per month
$1,567
per year
$47,018
over 30 years
$96,976
interest saved
How gap financing works: The equity gap ($275,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,250, 5% of purchase price) and a second mortgage for the rest ($242,041 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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