Loan Comparison: 2.83% vs 6.5%
6186 Flower, Arvada, CO 80004 · 5bd/3ba · $649,500
List Price
$649,500
Assumable Rate
2.83%
Remaining Balance
$392,248
Equity Gap
$258,174
Loan Type
FHAAdjust Your Scenario
$32,475
$32,475$258,174
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,900/moAssumable @ 2.83% + gap loan
$3,353/moAssumed loan: $1,618/mo
Gap financing: $1,735/mo
$547less per month with the assumable
Your Savings on This Property
6186 Flower, Arvada · 2.83% FHA vs 6.5% conventional
$547
per month
$6,559
per year
$196,776
over 30 years
$197,698
interest saved
How gap financing works: The equity gap ($258,174) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,475, 5% of purchase price) and a second mortgage for the rest ($225,699 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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