Loan Comparison: 5.62% vs 6.5%
1872 130th Drive, Westminster, CO 80234 · 2bd/3ba · $833,000
List Price
$833,000
Assumable Rate
5.62%
Remaining Balance
$229,605
Equity Gap
$603,395
Loan Type
FHAAdjust Your Scenario
$41,650
$41,650$603,395
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.62% (FHA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,002/moAssumable @ 5.62% + gap loan
$5,249/moAssumed loan: $1,321/mo
Gap financing: $3,928/mo
Your Savings on This Property
1872 130th Drive, Westminster · 5.62% 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 ($603,395) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,650, 5% of purchase price) and a second mortgage for the rest ($561,745 at 7.5%). 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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