Loan Comparison: 6.77% vs 6.5%
7327 Araia Drive, Fountain, CO 80817 · 3bd/1ba · $420,000
List Price
$420,000
Assumable Rate
6.77%
Remaining Balance
$143,520
Equity Gap
$276,479
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$276,479
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.77% (FHA)
Blended Rate: 7.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 6.77% + gap loan
$2,719/moAssumed loan: $933/mo
Gap financing: $1,786/mo
Your Savings on This Property
7327 Araia Drive, Fountain · 6.77% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($276,479) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($255,479 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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