Loan Comparison: 8% vs 6.5%
8220 US Highway 24, Cascade, CO 80809 · 4bd/2ba · $815,000
List Price
$815,000
Assumable Rate
8%
Remaining Balance
$553,032
Equity Gap
$261,968
Loan Type
FHAAdjust Your Scenario
$40,750
$40,750$261,968
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 8% (FHA)
Blended Rate: 7.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,894/moAssumable @ 8% + gap loan
$5,605/moAssumed loan: $4,058/mo
Gap financing: $1,547/mo
Your Savings on This Property
8220 US Highway 24, Cascade · 8% 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 ($261,968) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,750, 5% of purchase price) and a second mortgage for the rest ($221,218 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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