Loan Comparison: 3.77% vs 6.5%
5725 Atlantic, Lakewood, CO 80227 · 2bd/1ba · $273,500
List Price
$273,500
Assumable Rate
3.77%
Remaining Balance
$185,222
Equity Gap
$95,401
Loan Type
FHAAdjust Your Scenario
$13,675
$13,675$95,401
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,642/moAssumable @ 3.77% + gap loan
$1,488/moAssumed loan: $860/mo
Gap financing: $628/mo
$154less per month with the assumable
Your Savings on This Property
5725 Atlantic, Lakewood · 3.77% FHA vs 6.5% conventional
$154
per month
$1,848
per year
$55,430
over 30 years
$62,553
interest saved
How gap financing works: The equity gap ($95,401) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,675, 5% of purchase price) and a second mortgage for the rest ($81,726 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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