Loan Comparison: 5.88% vs 6.5%
3937 Kenwood Circle, Johnstown, CO 80534 · 4bd/4ba · $519,900
List Price
$519,900
Assumable Rate
5.88%
Remaining Balance
$470,721
Equity Gap
$49,178
Loan Type
FHAAdjust Your Scenario
$25,995
$25,995$49,178
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.88% (FHA)
Blended Rate: 5.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 5.88% + gap loan
$2,948/moAssumed loan: $2,786/mo
Gap financing: $162/mo
$174less per month with the assumable
Your Savings on This Property
3937 Kenwood Circle, Johnstown · 5.88% FHA vs 6.5% conventional
$174
per month
$2,085
per year
$62,539
over 30 years
$62,538
interest saved
How gap financing works: The equity gap ($49,178) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,995, 5% of purchase price) and a second mortgage for the rest ($23,183 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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