Loan Comparison: 3.06% vs 6.5%
7860 Julian, Westminster, CO 80030 · 4bd/2ba · $539,900
List Price
$539,900
Assumable Rate
3.06%
Remaining Balance
$366,749
Equity Gap
$230,151
Loan Type
FHAAdjust Your Scenario
$26,995
$26,995$230,151
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,242/moAssumable @ 3.06% + gap loan
$3,120/moAssumed loan: $1,558/mo
Gap financing: $1,562/mo
$122less per month with the assumable
Your Savings on This Property
7860 Julian, Westminster · 3.06% FHA vs 6.5% conventional
$122
per month
$1,460
per year
$43,809
over 30 years
$100,809
interest saved
How gap financing works: The equity gap ($230,151) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,995, 5% of purchase price) and a second mortgage for the rest ($203,156 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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