Loan Comparison: 6.5% vs 6.5%
2917 81st Avenue, Westminster, CO 80031 · 3bd/3ba · $286,000
List Price
$286,000
Assumable Rate
6.5%
Remaining Balance
$48,813
Equity Gap
$237,186
Loan Type
FHAAdjust Your Scenario
$14,300
$14,300$237,186
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 7.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,717/moAssumable @ 6.5% + gap loan
$1,867/moAssumed loan: $309/mo
Gap financing: $1,558/mo
Your Savings on This Property
2917 81st Avenue, Westminster · 6.5% 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 ($237,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,300, 5% of purchase price) and a second mortgage for the rest ($222,886 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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