Loan Comparison: 3.77% vs 6.5%
105 Newland, Lakewood, CO 80226 · 3bd/2ba · $665,000
List Price
$665,000
Assumable Rate
3.77%
Remaining Balance
$373,512
Equity Gap
$291,488
Loan Type
FHAAdjust Your Scenario
$33,250
$33,250$291,488
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3.77% + gap loan
$3,720/moAssumed loan: $1,734/mo
Gap financing: $1,986/mo
$273less per month with the assumable
Your Savings on This Property
105 Newland, Lakewood · 3.77% FHA vs 6.5% conventional
$273
per month
$3,281
per year
$98,434
over 30 years
$98,434
interest saved
How gap financing works: The equity gap ($291,488) 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 ($258,238 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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