Loan Comparison: 4.47% vs 6.5%
9271 Grove Street, Westminster, CO 80031 · 2bd/1ba · $465,000
List Price
$465,000
Assumable Rate
4.47%
Remaining Balance
$276,911
Equity Gap
$188,088
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$188,088
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.47% + gap loan
$2,551/moAssumed loan: $1,398/mo
Gap financing: $1,153/mo
$241less per month with the assumable
Your Savings on This Property
9271 Grove Street, Westminster · 4.47% FHA vs 6.5% conventional
$241
per month
$2,897
per year
$86,923
over 30 years
$86,922
interest saved
How gap financing works: The equity gap ($188,088) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($164,838 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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