Loan Comparison: 2.89% vs 6.5%
7536 Sandy Springs Point, Fountain, CO 80817 · 6bd/4ba · $324,900
List Price
$324,900
Assumable Rate
2.89%
Remaining Balance
$187,874
Equity Gap
$137,025
Loan Type
FHAAdjust Your Scenario
$16,245
$16,245$137,025
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,951/moAssumable @ 2.89% + gap loan
$1,625/moAssumed loan: $781/mo
Gap financing: $845/mo
$325less per month with the assumable
Your Savings on This Property
7536 Sandy Springs Point, Fountain · 2.89% FHA vs 6.5% conventional
$325
per month
$3,905
per year
$117,150
over 30 years
$117,149
interest saved
How gap financing works: The equity gap ($137,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,245, 5% of purchase price) and a second mortgage for the rest ($120,780 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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