Loan Comparison: 5.625% vs 6.5%
6855 84th, Arvada, CO 80003 · 2bd/2ba · $325,000
List Price
$325,000
Assumable Rate
5.625%
Remaining Balance
$280,100
Equity Gap
$44,900
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$44,900
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.625% (FHA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 5.625% + gap loan
$1,833/moAssumed loan: $1,612/mo
Gap financing: $220/mo
$119less per month with the assumable
Your Savings on This Property
6855 84th, Arvada · 5.625% FHA vs 6.5% conventional
$119
per month
$1,426
per year
$42,769
over 30 years
$42,769
interest saved
How gap financing works: The equity gap ($44,900) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($28,650 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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