Loan Comparison: 3.02% vs 6.5%
2969 81st, Westminster, CO 80031 · 2bd/2ba · $325,000
List Price
$325,000
Assumable Rate
3.02%
Remaining Balance
$239,547
Equity Gap
$84,338
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$84,338
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.02% + gap loan
$1,536/moAssumed loan: $1,013/mo
Gap financing: $524/mo
$415less per month with the assumable
Your Savings on This Property
2969 81st, Westminster · 3.02% FHA vs 6.5% conventional
$415
per month
$4,985
per year
$149,561
over 30 years
$148,446
interest saved
How gap financing works: The equity gap ($84,338) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($68,088 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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