Loan Comparison: 6.28% vs 6.5%
4955 73rd Avenue, Westminster, CO 80030 · 4bd/3ba · $300,000
List Price
$300,000
Assumable Rate
6.28%
Remaining Balance
$158
Equity Gap
$299,841
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$299,841
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.28% (FHA)
Blended Rate: 7.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 6.28% + gap loan
$1,993/moAssumed loan: $1/mo
Gap financing: $1,992/mo
Your Savings on This Property
4955 73rd Avenue, Westminster · 6.28% 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 ($299,841) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($284,841 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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