Loan Comparison: 6.77% vs 6.5%
342 Mount View Lane, Fountain, CO 80817 · 6bd/4ba · $344,000
List Price
$344,000
Assumable Rate
6.77%
Remaining Balance
$25,154
Equity Gap
$318,845
Loan Type
FHAAdjust Your Scenario
$17,200
$17,200$318,845
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.77% (FHA)
Blended Rate: 7.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,066/moAssumable @ 6.77% + gap loan
$2,273/moAssumed loan: $163/mo
Gap financing: $2,109/mo
Your Savings on This Property
342 Mount View Lane, 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 ($318,845) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,200, 5% of purchase price) and a second mortgage for the rest ($301,645 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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