Loan Comparison: 3.45% vs 6.5%
11127 Alcott Street, Westminster, CO 80234 · 3bd/3ba · $250,000
List Price
$250,000
Assumable Rate
3.45%
Remaining Balance
$192,878
Equity Gap
$57,121
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$57,121
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.45% + gap loan
$1,173/moAssumed loan: $861/mo
Gap financing: $312/mo
$328less per month with the assumable
Your Savings on This Property
11127 Alcott Street, Westminster · 3.45% FHA vs 6.5% conventional
$328
per month
$3,941
per year
$118,235
over 30 years
$118,234
interest saved
How gap financing works: The equity gap ($57,121) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($44,621 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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