Loan Comparison: 2.75% vs 6.5%
7030 Zenobia, Westminster, CO 80030 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
2.75%
Remaining Balance
$223,533
Equity Gap
$351,977
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$351,977
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (FHA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.75% + gap loan
$3,398/moAssumed loan: $913/mo
Gap financing: $2,485/mo
$55less per month with the assumable
Your Savings on This Property
7030 Zenobia, Westminster · 2.75% FHA vs 6.5% conventional
$55
per month
$657
per year
$19,721
over 30 years
$20,231
interest saved
How gap financing works: The equity gap ($351,977) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($323,227 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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