Loan Comparison: 3.8% vs 6.5%
420 Duke Lane, Fort Collins, CO 80525 · 2bd/2ba · $649,500
List Price
$649,500
Assumable Rate
3.8%
Remaining Balance
$326,972
Equity Gap
$322,527
Loan Type
FHAAdjust Your Scenario
$32,475
$32,475$322,527
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,900/moAssumable @ 3.8% + gap loan
$3,552/moAssumed loan: $1,524/mo
Gap financing: $2,028/mo
$348less per month with the assumable
Your Savings on This Property
420 Duke Lane, Fort Collins · 3.8% FHA vs 6.5% conventional
$348
per month
$4,181
per year
$125,418
over 30 years
$125,417
interest saved
How gap financing works: The equity gap ($322,527) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,475, 5% of purchase price) and a second mortgage for the rest ($290,052 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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