Loan Comparison: 5.52% vs 6.5%
7871 Grove, Westminster, CO 80030 · 5bd/2ba · $440,000
List Price
$440,000
Assumable Rate
5.52%
Remaining Balance
$388,165
Equity Gap
$49,105
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$49,105
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 5.52% + gap loan
$2,417/moAssumed loan: $2,209/mo
Gap financing: $208/mo
$225less per month with the assumable
Your Savings on This Property
7871 Grove, Westminster · 5.52% FHA vs 6.5% conventional
$225
per month
$2,698
per year
$80,928
over 30 years
$78,198
interest saved
How gap financing works: The equity gap ($49,105) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($27,105 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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