Loan Comparison: 5.625% vs 6.5%
6855 84th, Arvada, CO 80003 · 2bd/2ba · $330,000
List Price
$330,000
Assumable Rate
5.625%
Remaining Balance
$280,449
Equity Gap
$48,117
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$48,117
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.625% (FHA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 5.625% + gap loan
$1,858/moAssumed loan: $1,614/mo
Gap financing: $243/mo
$124less per month with the assumable
Your Savings on This Property
6855 84th, Arvada · 5.625% FHA vs 6.5% conventional
$124
per month
$1,488
per year
$44,641
over 30 years
$43,207
interest saved
How gap financing works: The equity gap ($48,117) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($31,617 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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