Loan Comparison: 5.54% vs 6.5%
8865 Meade, Westminster, CO 80031 · 3bd/3ba · $469,000
List Price
$469,000
Assumable Rate
5.54%
Remaining Balance
$394,686
Equity Gap
$74,872
Loan Type
FHAAdjust Your Scenario
$23,450
$23,450$74,872
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,816/moAssumable @ 5.54% + gap loan
$2,646/moAssumed loan: $2,251/mo
Gap financing: $395/mo
$170less per month with the assumable
Your Savings on This Property
8865 Meade, Westminster · 5.54% FHA vs 6.5% conventional
$170
per month
$2,039
per year
$61,160
over 30 years
$61,718
interest saved
How gap financing works: The equity gap ($74,872) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,450, 5% of purchase price) and a second mortgage for the rest ($51,422 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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