Loan Comparison: 2.86% vs 6.5%
13400 Raritan Way, Westminster, CO 80234 · 2bd/1ba · $635,000
List Price
$635,000
Assumable Rate
2.86%
Remaining Balance
$498,060
Equity Gap
$136,940
Loan Type
FHAAdjust Your Scenario
$31,750
$31,750$136,940
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (FHA)
Blended Rate: 3.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,813/moAssumable @ 2.86% + gap loan
$2,798/moAssumed loan: $2,062/mo
Gap financing: $736/mo
$1,015less per month with the assumable
Your Savings on This Property
13400 Raritan Way, Westminster · 2.86% FHA vs 6.5% conventional
$1,015
per month
$12,180
per year
$365,409
over 30 years
$365,409
interest saved
How gap financing works: The equity gap ($136,940) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,750, 5% of purchase price) and a second mortgage for the rest ($105,190 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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