Loan Comparison: 3.07% vs 6.5%
2941 81st, Westminster, CO 80031 · 2bd/2ba · $300,000
List Price
$300,000
Assumable Rate
3.07%
Remaining Balance
$211,532
Equity Gap
$87,111
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$87,111
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.07% + gap loan
$1,454/moAssumed loan: $900/mo
Gap financing: $554/mo
$347less per month with the assumable
Your Savings on This Property
2941 81st, Westminster · 3.07% FHA vs 6.5% conventional
$347
per month
$4,165
per year
$124,952
over 30 years
$123,595
interest saved
How gap financing works: The equity gap ($87,111) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($72,111 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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