Loan Comparison: 3.95% vs 6.5%
7482 Routt, Arvada, CO 80005 · 4bd/4ba · $950,000
List Price
$950,000
Assumable Rate
3.95%
Remaining Balance
$302,730
Equity Gap
$696,320
Loan Type
FHAAdjust Your Scenario
$47,500
$47,500$696,320
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.95% (FHA)
Blended Rate: 7.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,704/moAssumable @ 3.95% + gap loan
$6,425/moAssumed loan: $1,437/mo
Gap financing: $4,989/mo
Your Savings on This Property
7482 Routt, Arvada · 3.95% 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 ($696,320) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,500, 5% of purchase price) and a second mortgage for the rest ($648,820 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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