Loan Comparison: 5.55% vs 6.5%
7940 Appleblossom, Westminster, CO 80030 · 4bd/2ba · $520,000
List Price
$520,000
Assumable Rate
5.55%
Remaining Balance
$417,943
Equity Gap
$102,057
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$102,057
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (FHA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 5.55% + gap loan
$2,971/moAssumed loan: $2,386/mo
Gap financing: $585/mo
$151less per month with the assumable
Your Savings on This Property
7940 Appleblossom, Westminster · 5.55% FHA vs 6.5% conventional
$151
per month
$1,817
per year
$54,519
over 30 years
$54,519
interest saved
How gap financing works: The equity gap ($102,057) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($76,057 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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