Loan Comparison: 4.47% vs 6.5%
9271 Grove, Westminster, CO 80031 · 3bd/2ba · $465,000
List Price
$465,000
Assumable Rate
4.47%
Remaining Balance
$278,148
Equity Gap
$185,624
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$185,624
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%
$2,792/moAssumable @ 4.47% + gap loan
$2,653/moAssumed loan: $1,404/mo
Gap financing: $1,249/mo
$139less per month with the assumable
Your Savings on This Property
9271 Grove, Westminster · 4.47% FHA vs 6.5% conventional
$139
per month
$1,671
per year
$50,135
over 30 years
$48,907
interest saved
How gap financing works: The equity gap ($185,624) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($162,374 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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