Loan Comparison: 4.22% vs 6.5%
3250 Holland, Wheat Ridge, CO 80033 · 3bd/2ba · $723,000
List Price
$723,000
Assumable Rate
4.22%
Remaining Balance
$184,721
Equity Gap
$655,703
Loan Type
FHAAdjust Your Scenario
$36,150
$36,150$655,703
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.22% (FHA)
Blended Rate: 7.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,341/moAssumable @ 4.22% + gap loan
$5,669/moAssumed loan: $905/mo
Gap financing: $4,764/mo
Your Savings on This Property
3250 Holland, Wheat Ridge · 4.22% 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 ($655,703) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,150, 5% of purchase price) and a second mortgage for the rest ($619,553 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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