Loan Comparison: 2.84% vs 6.5%
11795 85th, Arvada, CO 80005 · 4bd/3ba · $650,000
List Price
$650,000
Assumable Rate
2.84%
Remaining Balance
$414,969
Equity Gap
$244,995
Loan Type
FHAAdjust Your Scenario
$32,500
$32,500$244,995
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 4.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,903/moAssumable @ 2.84% + gap loan
$3,348/moAssumed loan: $1,714/mo
Gap financing: $1,634/mo
$555less per month with the assumable
Your Savings on This Property
11795 85th, Arvada · 2.84% FHA vs 6.5% conventional
$555
per month
$6,662
per year
$199,870
over 30 years
$209,834
interest saved
How gap financing works: The equity gap ($244,995) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,500, 5% of purchase price) and a second mortgage for the rest ($212,495 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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