Loan Comparison: 2.9% vs 6.5%
5135 68th, Westminster, CO 80030 · 2bd/2ba · $360,000
List Price
$360,000
Assumable Rate
2.9%
Remaining Balance
$323,768
Equity Gap
$31,315
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$31,315
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 3.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.9% + gap loan
$1,450/moAssumed loan: $1,348/mo
Gap financing: $102/mo
$712less per month with the assumable
Your Savings on This Property
5135 68th, Westminster · 2.9% FHA vs 6.5% conventional
$712
per month
$8,540
per year
$256,202
over 30 years
$251,285
interest saved
How gap financing works: The equity gap ($31,315) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($13,315 at 8.5%). 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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