Loan Comparison: 2.48% vs 6.5%
2702 Rigden Parkway, Fort Collins, CO 80525 · 2bd/3ba · $350,000
List Price
$350,000
Assumable Rate
2.48%
Remaining Balance
$124,239
Equity Gap
$225,760
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$225,760
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.48% (FHA)
Blended Rate: 5.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 2.48% + gap loan
$1,946/moAssumed loan: $490/mo
Gap financing: $1,456/mo
$156less per month with the assumable
Your Savings on This Property
2702 Rigden Parkway, Fort Collins · 2.48% FHA vs 6.5% conventional
$156
per month
$1,870
per year
$56,102
over 30 years
$56,101
interest saved
How gap financing works: The equity gap ($225,760) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($208,260 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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