Loan Comparison: 3.07% vs 6.5%
2309 Bluebells Drive, Evans, CO 80620 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.07%
Remaining Balance
$343,895
Equity Gap
$56,104
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$56,104
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.07% + gap loan
$1,715/moAssumed loan: $1,463/mo
Gap financing: $252/mo
$687less per month with the assumable
Your Savings on This Property
2309 Bluebells Drive, Evans · 3.07% FHA vs 6.5% conventional
$687
per month
$8,238
per year
$247,149
over 30 years
$247,148
interest saved
How gap financing works: The equity gap ($56,104) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($36,104 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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