Loan Comparison: 6% vs 6.5%
8440 Decatur, Westminster, CO 80031 · 2bd/1ba · $214,000
List Price
$214,000
Assumable Rate
6%
Remaining Balance
$44,379
Equity Gap
$170,041
Loan Type
FHAAdjust Your Scenario
$10,700
$10,700$170,041
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6% (FHA)
Blended Rate: 7.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,285/moAssumable @ 6% + gap loan
$1,491/moAssumed loan: $266/mo
Gap financing: $1,225/mo
Your Savings on This Property
8440 Decatur, Westminster · 6% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($170,041) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,700, 5% of purchase price) and a second mortgage for the rest ($159,341 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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