Loan Comparison: 2.88% vs 6.5%
12139 Clay, Westminster, CO 80234 · 4bd/3ba · $999,999
List Price
$999,999
Assumable Rate
2.88%
Remaining Balance
$507,211
Equity Gap
$490,577
Loan Type
FHAAdjust Your Scenario
$50,000
$50,000$490,577
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 2.88% + gap loan
$5,493/moAssumed loan: $2,106/mo
Gap financing: $3,388/mo
$511less per month with the assumable
Your Savings on This Property
12139 Clay, Westminster · 2.88% FHA vs 6.5% conventional
$511
per month
$6,135
per year
$184,049
over 30 years
$181,838
interest saved
How gap financing works: The equity gap ($490,577) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($440,577 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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