Loan Comparison: 5.25% vs 6.5%
426 Heritage Lane, Johnstown, CO 80534 · 4bd/4ba · $439,500
List Price
$439,500
Assumable Rate
5.25%
Remaining Balance
$108,070
Equity Gap
$331,430
Loan Type
FHAAdjust Your Scenario
$21,975
$21,975$331,430
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 6.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,639/moAssumable @ 5.25% + gap loan
$2,761/moAssumed loan: $597/mo
Gap financing: $2,164/mo
Your Savings on This Property
426 Heritage Lane, Johnstown · 5.25% 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 ($331,430) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,975, 5% of purchase price) and a second mortgage for the rest ($309,455 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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