Loan Comparison: 5.5% vs 6.5%
406 Emma Street, Lafayette, CO 80026 · 3bd/2ba · $580,000
List Price
$580,000
Assumable Rate
5.5%
Remaining Balance
$476,529
Equity Gap
$103,471
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$103,471
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 5.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 5.5% + gap loan
$3,226/moAssumed loan: $2,706/mo
Gap financing: $521/mo
$256less per month with the assumable
Your Savings on This Property
406 Emma Street, Lafayette · 5.5% FHA vs 6.5% conventional
$256
per month
$3,076
per year
$92,269
over 30 years
$92,269
interest saved
How gap financing works: The equity gap ($103,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($74,471 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 406 Emma Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.