Loan Comparison: 5.25% vs 6.5%
602 Hillrose Court, Fort Collins, CO 80525 · 3bd/2ba · $599,000
List Price
$599,000
Assumable Rate
5.25%
Remaining Balance
$458,497
Equity Gap
$140,503
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$140,503
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 5.25% + gap loan
$3,305/moAssumed loan: $2,532/mo
Gap financing: $773/mo
$292less per month with the assumable
Your Savings on This Property
602 Hillrose Court, Fort Collins · 5.25% FHA vs 6.5% conventional
$292
per month
$3,503
per year
$105,100
over 30 years
$105,100
interest saved
How gap financing works: The equity gap ($140,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($110,553 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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