Loan Comparison: 3.91% vs 6.5%
1913 Waters Edge Street, Fort Collins, CO 80526 · 6bd/6ba · $390,000
List Price
$390,000
Assumable Rate
3.91%
Remaining Balance
$80,558
Equity Gap
$309,442
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$309,442
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.91% (FHA)
Blended Rate: 6.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.91% + gap loan
$2,408/moAssumed loan: $380/mo
Gap financing: $2,027/mo
Your Savings on This Property
1913 Waters Edge Street, Fort Collins · 3.91% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($309,442) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($289,942 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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