Loan Comparison: 4.98% vs 6.5%
7387 Middle Bay Way, Fountain, CO 80817 · 5bd/3ba · $530,000
List Price
$530,000
Assumable Rate
4.98%
Remaining Balance
$437,448
Equity Gap
$92,552
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$92,552
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 4.98% + gap loan
$2,805/moAssumed loan: $2,343/mo
Gap financing: $462/mo
$378less per month with the assumable
Your Savings on This Property
7387 Middle Bay Way, Fountain · 4.98% FHA vs 6.5% conventional
$378
per month
$4,532
per year
$135,953
over 30 years
$135,953
interest saved
How gap financing works: The equity gap ($92,552) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($66,052 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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