Loan Comparison: 3.69% vs 6.5%
507 11th Street, Loveland, CO 80537 · 4bd/3ba · $430,000
List Price
$430,000
Assumable Rate
3.69%
Remaining Balance
$258,301
Equity Gap
$171,698
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$171,698
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.69% + gap loan
$2,238/moAssumed loan: $1,187/mo
Gap financing: $1,050/mo
$344less per month with the assumable
Your Savings on This Property
507 11th Street, Loveland · 3.69% FHA vs 6.5% conventional
$344
per month
$4,132
per year
$123,961
over 30 years
$123,960
interest saved
How gap financing works: The equity gap ($171,698) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($150,198 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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