Loan Comparison: 2.98% vs 6.5%
3170 94th, Westminster, CO 80031 · 4bd/2ba · $510,000
List Price
$510,000
Assumable Rate
2.98%
Remaining Balance
$519,209
Equity Gap
$112,060
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$112,060
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.98% + gap loan
$2,849/moAssumed loan: $2,183/mo
Gap financing: $666/mo
$213less per month with the assumable
Your Savings on This Property
3170 94th, Westminster · 2.98% FHA vs 6.5% conventional
$213
per month
$2,561
per year
$76,820
over 30 years
$198,089
interest saved
How gap financing works: The equity gap ($112,060) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($86,560 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.