Loan Comparison: 4.55% vs 6.5%
2142 Meadow Court, Longmont, CO 80501 · 3bd/2ba · $389,999
List Price
$389,999
Assumable Rate
4.55%
Remaining Balance
$86,086
Equity Gap
$303,912
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$303,912
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.55% (FHA)
Blended Rate: 6.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 4.55% + gap loan
$2,427/moAssumed loan: $439/mo
Gap financing: $1,989/mo
Your Savings on This Property
2142 Meadow Court, Longmont · 4.55% 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 ($303,912) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($284,412 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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