Loan Comparison: 3.76% vs 6.5%
3355 94th, Westminster, CO 80031 · 6bd/2ba · $495,000
List Price
$495,000
Assumable Rate
3.76%
Remaining Balance
$460,451
Equity Gap
$53,092
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$53,092
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.76% + gap loan
$2,353/moAssumed loan: $2,135/mo
Gap financing: $218/mo
$619less per month with the assumable
Your Savings on This Property
3355 94th, Westminster · 3.76% FHA vs 6.5% conventional
$619
per month
$7,432
per year
$222,963
over 30 years
$241,506
interest saved
How gap financing works: The equity gap ($53,092) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($28,342 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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