Loan Comparison: 4.98% vs 6.5%
1546 Cleveland Avenue, Loveland, CO 80538 · 4bd/4ba · $350,000
List Price
$350,000
Assumable Rate
4.98%
Remaining Balance
$282,942
Equity Gap
$67,058
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$67,058
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.98% + gap loan
$1,862/moAssumed loan: $1,515/mo
Gap financing: $347/mo
$240less per month with the assumable
Your Savings on This Property
1546 Cleveland Avenue, Loveland · 4.98% FHA vs 6.5% conventional
$240
per month
$2,876
per year
$86,282
over 30 years
$86,282
interest saved
How gap financing works: The equity gap ($67,058) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($49,558 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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