Loan Comparison: 4.17% vs 6.5%
4483 Barrow Lane, Timnath, CO 80547 · 2bd/3ba · $520,000
List Price
$520,000
Assumable Rate
4.17%
Remaining Balance
$255,173
Equity Gap
$264,827
Loan Type
FHAAdjust Your Scenario
$26,000
$26,000$264,827
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,122/moAssumable @ 4.17% + gap loan
$2,913/moAssumed loan: $1,243/mo
Gap financing: $1,670/mo
$209less per month with the assumable
Your Savings on This Property
4483 Barrow Lane, Timnath · 4.17% FHA vs 6.5% conventional
$209
per month
$2,510
per year
$75,286
over 30 years
$75,286
interest saved
How gap financing works: The equity gap ($264,827) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,000, 5% of purchase price) and a second mortgage for the rest ($238,827 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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