Loan Comparison: 2.25% vs 6.5%
3380 98th, Westminster, CO 80031 · 2bd/2ba · $425,000
List Price
$425,000
Assumable Rate
2.25%
Remaining Balance
$262,882
Equity Gap
$164,559
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$164,559
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.25% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.25% + gap loan
$2,107/moAssumed loan: $1,005/mo
Gap financing: $1,102/mo
$445less per month with the assumable
Your Savings on This Property
3380 98th, Westminster · 2.25% FHA vs 6.5% conventional
$445
per month
$5,342
per year
$160,271
over 30 years
$162,712
interest saved
How gap financing works: The equity gap ($164,559) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($143,309 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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