Loan Comparison: 3.06% vs 6.5%
5433 Bauer Drive, Longmont, CO 80504 · 4bd/4ba · $499,000
List Price
$499,000
Assumable Rate
3.06%
Remaining Balance
$387,596
Equity Gap
$111,403
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$111,403
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.06% + gap loan
$2,251/moAssumed loan: $1,647/mo
Gap financing: $604/mo
$745less per month with the assumable
Your Savings on This Property
5433 Bauer Drive, Longmont · 3.06% FHA vs 6.5% conventional
$745
per month
$8,942
per year
$268,249
over 30 years
$268,248
interest saved
How gap financing works: The equity gap ($111,403) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($86,453 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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