Loan Comparison: 2.98% vs 6.5%
324 Ames, Lakewood, CO 80226 · 3bd/3ba · $545,000
List Price
$545,000
Assumable Rate
2.98%
Remaining Balance
$337,943
Equity Gap
$207,057
Loan Type
FHAAdjust Your Scenario
$27,250
$27,250$207,057
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,273/moAssumable @ 2.98% + gap loan
$2,804/moAssumed loan: $1,421/mo
Gap financing: $1,383/mo
$469less per month with the assumable
Your Savings on This Property
324 Ames, Lakewood · 2.98% FHA vs 6.5% conventional
$469
per month
$5,626
per year
$168,780
over 30 years
$168,780
interest saved
How gap financing works: The equity gap ($207,057) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,250, 5% of purchase price) and a second mortgage for the rest ($179,807 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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