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
$444,417
Equity Gap
$290,656
Loan Type
FHAAdjust Your Scenario
$33,250
$33,250$290,656
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 3.77% + gap loan
$4,042/moAssumed loan: $2,063/mo
Gap financing: $1,979/mo
Your Savings on This Property
105 Newland, Lakewood · 3.77% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$52,307
interest saved
How gap financing works: The equity gap ($290,656) 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 ($257,406 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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