Loan Comparison: 3.61% vs 6.5%
8395 64th, Arvada, CO 80004 · 5bd/3ba · $615,000
List Price
$615,000
Assumable Rate
3.61%
Remaining Balance
$389,708
Equity Gap
$225,291
Loan Type
FHAAdjust Your Scenario
$30,750
$30,750$225,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 3.61% + gap loan
$3,270/moAssumed loan: $1,774/mo
Gap financing: $1,496/mo
$423less per month with the assumable
Your Savings on This Property
8395 64th, Arvada · 3.61% FHA vs 6.5% conventional
$423
per month
$5,076
per year
$152,289
over 30 years
$152,288
interest saved
How gap financing works: The equity gap ($225,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($194,541 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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