Loan Comparison: 3.34% vs 6.5%
19755 Elbert Road, Peyton, CO 80831 · 5bd/4ba · $2,700,000
List Price
$2,700,000
Assumable Rate
3.34%
Remaining Balance
$1,002,734
Equity Gap
$1,697,266
Loan Type
FHAAdjust Your Scenario
$135,000
$135,000$1,697,266
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (FHA)
Blended Rate: 5.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$16,213/moAssumable @ 3.34% + gap loan
$15,337/moAssumed loan: $4,414/mo
Gap financing: $10,924/mo
$875less per month with the assumable
Your Savings on This Property
19755 Elbert Road, Peyton · 3.34% FHA vs 6.5% conventional
$875
per month
$10,504
per year
$315,111
over 30 years
$315,111
interest saved
How gap financing works: The equity gap ($1,697,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($135,000, 5% of purchase price) and a second mortgage for the rest ($1,562,266 at 7.5%). 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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