Loan Comparison: 3.69% vs 6.5%
1247 135th Place, Westminster, CO 80516 · 5bd/5ba · $520,000
List Price
$520,000
Assumable Rate
3.69%
Remaining Balance
$227,659
Equity Gap
$292,340
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$292,340
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.74%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 3.69% + gap loan
$2,909/moAssumed loan: $1,047/mo
Gap financing: $1,862/mo
$214less per month with the assumable
Your Savings on This Property
1247 135th Place, Westminster · 3.69% FHA vs 6.5% conventional
$214
per month
$2,562
per year
$76,874
over 30 years
$76,873
interest saved
How gap financing works: The equity gap ($292,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($266,340 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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