Loan Comparison: 6.3% vs 6.5%
3411 98th Drive, Westminster, CO 80031 · 4bd/3ba · $475,000
List Price
$475,000
Assumable Rate
6.3%
Remaining Balance
$411,419
Equity Gap
$63,581
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$63,581
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.3% (FHA)
Blended Rate: 6.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 6.3% + gap loan
$2,825/moAssumed loan: $2,547/mo
Gap financing: $279/mo
$27less per month with the assumable
Your Savings on This Property
3411 98th Drive, Westminster · 6.3% FHA vs 6.5% conventional
$27
per month
$326
per year
$9,767
over 30 years
$9,767
interest saved
How gap financing works: The equity gap ($63,581) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($39,831 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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