Loan Comparison: 3.88% vs 6.5%
7524 Benton, Arvada, CO 80003 · 3bd/2ba · $525,000
List Price
$525,000
Assumable Rate
3.88%
Remaining Balance
$451,765
Equity Gap
$264,529
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$264,529
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.88% + gap loan
$3,958/moAssumed loan: $2,126/mo
Gap financing: $1,832/mo
Your Savings on This Property
7524 Benton, Arvada · 3.88% 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 ($264,529) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($238,279 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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