Loan Comparison: 4.17% vs 6.5%
802 Heschel Street, Fort Collins, CO 80524 · 4bd/3ba · $464,000
List Price
$464,000
Assumable Rate
4.17%
Remaining Balance
$253,252
Equity Gap
$210,747
Loan Type
FHAAdjust Your Scenario
$23,200
$23,200$210,747
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,786/moAssumable @ 4.17% + gap loan
$2,545/moAssumed loan: $1,234/mo
Gap financing: $1,311/mo
$241less per month with the assumable
Your Savings on This Property
802 Heschel Street, Fort Collins · 4.17% FHA vs 6.5% conventional
$241
per month
$2,889
per year
$86,682
over 30 years
$86,681
interest saved
How gap financing works: The equity gap ($210,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,200, 5% of purchase price) and a second mortgage for the rest ($187,547 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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