Loan Comparison: 3.07% vs 6.5%
289 Holden Lane, Johnstown, CO 80534 · 2bd/2ba · $579,500
List Price
$579,500
Assumable Rate
3.07%
Remaining Balance
$429,521
Equity Gap
$149,979
Loan Type
FHAAdjust Your Scenario
$28,975
$28,975$149,979
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,480/moAssumable @ 3.07% + gap loan
$2,673/moAssumed loan: $1,827/mo
Gap financing: $846/mo
$806less per month with the assumable
Your Savings on This Property
289 Holden Lane, Johnstown · 3.07% FHA vs 6.5% conventional
$806
per month
$9,678
per year
$290,333
over 30 years
$290,333
interest saved
How gap financing works: The equity gap ($149,979) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,975, 5% of purchase price) and a second mortgage for the rest ($121,004 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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