Loan Comparison: 6.25% vs 6.5%
4122 Riley Drive, Longmont, CO 80503 · 3bd/4ba · $429,500
List Price
$429,500
Assumable Rate
6.25%
Remaining Balance
$81,484
Equity Gap
$348,016
Loan Type
FHAAdjust Your Scenario
$21,475
$21,475$348,016
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.25% (FHA)
Blended Rate: 7.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,579/moAssumable @ 6.25% + gap loan
$2,785/moAssumed loan: $502/mo
Gap financing: $2,283/mo
Your Savings on This Property
4122 Riley Drive, Longmont · 6.25% 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 ($348,016) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,475, 5% of purchase price) and a second mortgage for the rest ($326,541 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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