Loan Comparison: 3.73% vs 6.5%
2880 Katie Drive, Loveland, CO 80537 · 3bd/1ba · $430,000
List Price
$430,000
Assumable Rate
3.73%
Remaining Balance
$264,533
Equity Gap
$165,467
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$165,467
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.73% (FHA)
Blended Rate: 5.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.73% + gap loan
$2,229/moAssumed loan: $1,222/mo
Gap financing: $1,007/mo
$353less per month with the assumable
Your Savings on This Property
2880 Katie Drive, Loveland · 3.73% FHA vs 6.5% conventional
$353
per month
$4,239
per year
$127,176
over 30 years
$127,176
interest saved
How gap financing works: The equity gap ($165,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($143,967 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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