Loan Comparison: 5% vs 6.5%
7810 90th, Westminster, CO 80021 · 3bd/4ba · $375,000
List Price
$375,000
Assumable Rate
5%
Remaining Balance
$249,778
Equity Gap
$125,221
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$125,221
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 5% + gap loan
$2,160/moAssumed loan: $1,341/mo
Gap financing: $819/mo
$92less per month with the assumable
Your Savings on This Property
7810 90th, Westminster · 5% FHA vs 6.5% conventional
$92
per month
$1,107
per year
$33,196
over 30 years
$33,195
interest saved
How gap financing works: The equity gap ($125,221) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($106,471 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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