Loan Comparison: 2.84% vs 6.5%
9380 Newton, Westminster, CO 80031 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
2.84%
Remaining Balance
$328,899
Equity Gap
$237,878
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$237,878
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 2.84% + gap loan
$2,984/moAssumed loan: $1,358/mo
Gap financing: $1,625/mo
$199less per month with the assumable
Your Savings on This Property
9380 Newton, Westminster · 2.84% FHA vs 6.5% conventional
$199
per month
$2,385
per year
$71,538
over 30 years
$108,315
interest saved
How gap financing works: The equity gap ($237,878) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($211,378 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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