Loan Comparison: 3.69% vs 6.5%
7664 King, Westminster, CO 80030 · 2bd/1ba · $400,000
List Price
$400,000
Assumable Rate
3.69%
Remaining Balance
$232,737
Equity Gap
$177,204
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$177,204
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.69% + gap loan
$2,279/moAssumed loan: $1,070/mo
Gap financing: $1,209/mo
$123less per month with the assumable
Your Savings on This Property
7664 King, Westminster · 3.69% FHA vs 6.5% conventional
$123
per month
$1,478
per year
$44,339
over 30 years
$54,280
interest saved
How gap financing works: The equity gap ($177,204) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($157,204 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.