Loan Comparison: 6.34% vs 6.5%
3162 Lower Loop Drive, Fort Collins, CO 80524 · 4bd/3ba · $500,000
List Price
$500,000
Assumable Rate
6.34%
Remaining Balance
$422,310
Equity Gap
$77,689
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$77,689
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.34% (FHA)
Blended Rate: 6.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.34% + gap loan
$2,993/moAssumed loan: $2,625/mo
Gap financing: $368/mo
$9less per month with the assumable
Your Savings on This Property
3162 Lower Loop Drive, Fort Collins · 6.34% FHA vs 6.5% conventional
$9
per month
$107
per year
$3,207
over 30 years
$3,206
interest saved
How gap financing works: The equity gap ($77,689) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($52,689 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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