Loan Comparison: 2.61% vs 6.5%
6659 Louisiana, Lakewood, CO 80232 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
2.61%
Remaining Balance
$1
Equity Gap
$549,999
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$549,999
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.61% (FHA)
Blended Rate: 8.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.61% + gap loan
$4,018/moAssumed loan: $0/mo
Gap financing: $4,018/mo
Your Savings on This Property
6659 Louisiana, Lakewood · 2.61% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($549,999) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($522,499 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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