Loan Comparison: 3.47% vs 6.5%
7265 Ellingwood Avenue, Frederick, CO 80504 · 3bd/2ba · $499,000
List Price
$499,000
Assumable Rate
3.47%
Remaining Balance
$357,395
Equity Gap
$141,604
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$141,604
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (FHA)
Blended Rate: 4.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 3.47% + gap loan
$2,415/moAssumed loan: $1,599/mo
Gap financing: $816/mo
$582less per month with the assumable
Your Savings on This Property
7265 Ellingwood Avenue, Frederick · 3.47% FHA vs 6.5% conventional
$582
per month
$6,981
per year
$209,438
over 30 years
$209,437
interest saved
How gap financing works: The equity gap ($141,604) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($116,654 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.
🏠
Back to This Listing
View photos, details, and request a showing for 7265 Ellingwood Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.