Loan Comparison: 4.47% vs 6.5%
9271 Grove, Westminster, CO 80031 · 3bd/2ba · $475,000
List Price
$475,000
Assumable Rate
4.47%
Remaining Balance
$293,344
Equity Gap
$195,624
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$195,624
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 4.47% + gap loan
$2,803/moAssumed loan: $1,481/mo
Gap financing: $1,322/mo
$50less per month with the assumable
Your Savings on This Property
9271 Grove, Westminster · 4.47% FHA vs 6.5% conventional
$50
per month
$594
per year
$17,834
over 30 years
$31,802
interest saved
How gap financing works: The equity gap ($195,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($171,874 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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