Loan Comparison: 6.24% vs 6.5%
5217 Greenview Drive, Fort Collins, CO 80525 · 3bd/3ba · $579,000
List Price
$579,000
Assumable Rate
6.24%
Remaining Balance
$505,818
Equity Gap
$73,181
Loan Type
FHAAdjust Your Scenario
$28,950
$28,950$73,181
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.24% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,477/moAssumable @ 6.24% + gap loan
$3,420/moAssumed loan: $3,111/mo
Gap financing: $309/mo
$56less per month with the assumable
Your Savings on This Property
5217 Greenview Drive, Fort Collins · 6.24% FHA vs 6.5% conventional
$56
per month
$676
per year
$20,268
over 30 years
$20,267
interest saved
How gap financing works: The equity gap ($73,181) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,950, 5% of purchase price) and a second mortgage for the rest ($44,231 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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