Loan Comparison: 7.85% vs 6.5%
4117 111th Circle, Westminster, CO 80031 · 1bd/1ba · $395,000
List Price
$395,000
Assumable Rate
7.85%
Remaining Balance
$24,717
Equity Gap
$370,283
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$370,283
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.85% (FHA)
Blended Rate: 7.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 7.85% + gap loan
$2,630/moAssumed loan: $179/mo
Gap financing: $2,451/mo
Your Savings on This Property
4117 111th Circle, Westminster · 7.85% 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 ($370,283) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($350,533 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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