Loan Comparison: 6.49% vs 6.5%
5446 115th Place, Westminster, CO 80602 · 5bd/5ba · $529,973
List Price
$529,973
Assumable Rate
6.49%
Remaining Balance
$497,649
Equity Gap
$32,323
Loan Type
FHAAdjust Your Scenario
$26,499
$26,499$32,323
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.49% (FHA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 6.49% + gap loan
$3,183/moAssumed loan: $3,142/mo
Gap financing: $41/mo
Your Savings on This Property
5446 115th Place, Westminster · 6.49% 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 ($32,323) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,499, 5% of purchase price) and a second mortgage for the rest ($5,824 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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