Loan Comparison: 4.27% vs 6.5%
3505 Willow Drive, Evans, CO 80620 · 4bd/3ba · $405,000
List Price
$405,000
Assumable Rate
4.27%
Remaining Balance
$257,639
Equity Gap
$147,360
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$147,360
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 4.27% + gap loan
$2,159/moAssumed loan: $1,270/mo
Gap financing: $889/mo
$273less per month with the assumable
Your Savings on This Property
3505 Willow Drive, Evans · 4.27% FHA vs 6.5% conventional
$273
per month
$3,272
per year
$98,159
over 30 years
$98,158
interest saved
How gap financing works: The equity gap ($147,360) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($127,110 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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