Loan Comparison: 6.64% vs 6.5%
3709 Salida Court, Evans, CO 80620 · 4bd/4ba · $309,900
List Price
$309,900
Assumable Rate
6.64%
Remaining Balance
$262,846
Equity Gap
$47,053
Loan Type
FHAAdjust Your Scenario
$15,495
$15,495$47,053
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.64% (FHA)
Blended Rate: 6.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 6.64% + gap loan
$1,906/moAssumed loan: $1,686/mo
Gap financing: $221/mo
Your Savings on This Property
3709 Salida Court, Evans · 6.64% 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 ($47,053) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,495, 5% of purchase price) and a second mortgage for the rest ($31,558 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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