Loan Comparison: 3.69% vs 6.5%
7664 King Street, Westminster, CO 80030 · 2bd/2ba · $389,999
List Price
$389,999
Assumable Rate
3.69%
Remaining Balance
$221,298
Equity Gap
$168,701
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$168,701
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.69% + gap loan
$2,061/moAssumed loan: $1,017/mo
Gap financing: $1,043/mo
$281less per month with the assumable
Your Savings on This Property
7664 King Street, Westminster · 3.69% FHA vs 6.5% conventional
$281
per month
$3,375
per year
$101,241
over 30 years
$101,241
interest saved
How gap financing works: The equity gap ($168,701) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($149,201 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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