Loan Comparison: 6.9% vs 6.5%
281 Raven Lane, Johnstown, CO 80534 · 3bd/3ba · $522,900
List Price
$522,900
Assumable Rate
6.9%
Remaining Balance
$470,948
Equity Gap
$51,951
Loan Type
FHAAdjust Your Scenario
$26,145
$26,145$51,951
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.9% (FHA)
Blended Rate: 6.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,140/moAssumable @ 6.9% + gap loan
$3,282/moAssumed loan: $3,102/mo
Gap financing: $180/mo
Your Savings on This Property
281 Raven Lane, Johnstown · 6.9% 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 ($51,951) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,145, 5% of purchase price) and a second mortgage for the rest ($25,806 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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