Loan Comparison: 6.39% vs 6.5%
6760 98th Circle, Westminster, CO 80021 · 2bd/1ba · $800,000
List Price
$800,000
Assumable Rate
6.39%
Remaining Balance
$586,133
Equity Gap
$213,866
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$213,866
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.39% (FHA)
Blended Rate: 6.64%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 6.39% + gap loan
$4,878/moAssumed loan: $3,662/mo
Gap financing: $1,216/mo
Your Savings on This Property
6760 98th Circle, Westminster · 6.39% 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 ($213,866) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($173,866 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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