Loan Comparison: 3.9% vs 6.5%
3103 Cody Avenue, Evans, CO 80620 · 3bd/2ba · $450,000
List Price
$450,000
Assumable Rate
3.9%
Remaining Balance
$233,743
Equity Gap
$216,256
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$216,256
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.9% + gap loan
$2,457/moAssumed loan: $1,102/mo
Gap financing: $1,355/mo
$245less per month with the assumable
Your Savings on This Property
3103 Cody Avenue, Evans · 3.9% FHA vs 6.5% conventional
$245
per month
$2,938
per year
$88,139
over 30 years
$88,138
interest saved
How gap financing works: The equity gap ($216,256) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($193,756 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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