Loan Comparison: 3.06% vs 6.5%
7901 Stuart Place, Westminster, CO 80030 · 4bd/4ba · $442,000
List Price
$442,000
Assumable Rate
3.06%
Remaining Balance
$191,242
Equity Gap
$250,757
Loan Type
FHAAdjust Your Scenario
$22,100
$22,100$250,757
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,654/moAssumable @ 3.06% + gap loan
$2,411/moAssumed loan: $812/mo
Gap financing: $1,599/mo
$243less per month with the assumable
Your Savings on This Property
7901 Stuart Place, Westminster · 3.06% FHA vs 6.5% conventional
$243
per month
$2,913
per year
$87,395
over 30 years
$87,394
interest saved
How gap financing works: The equity gap ($250,757) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,100, 5% of purchase price) and a second mortgage for the rest ($228,657 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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