Loan Comparison: 3.95% vs 6.5%
3090 107th, Westminster, CO 80031 · 1bd/1ba · $240,000
List Price
$240,000
Assumable Rate
3.95%
Remaining Balance
$150,507
Equity Gap
$97,348
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$97,348
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.95% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.95% + gap loan
$1,370/moAssumed loan: $714/mo
Gap financing: $656/mo
$71less per month with the assumable
Your Savings on This Property
3090 107th, Westminster · 3.95% FHA vs 6.5% conventional
$71
per month
$848
per year
$25,434
over 30 years
$33,289
interest saved
How gap financing works: The equity gap ($97,348) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($85,348 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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