Loan Comparison: 2.68% vs 6.5%
762 Stonebridge Drive, Longmont, CO 80503 · 3bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.68%
Remaining Balance
$309,524
Equity Gap
$150,475
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$150,475
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.68% + gap loan
$2,143/moAssumed loan: $1,252/mo
Gap financing: $891/mo
$619less per month with the assumable
Your Savings on This Property
762 Stonebridge Drive, Longmont · 2.68% FHA vs 6.5% conventional
$619
per month
$7,424
per year
$222,716
over 30 years
$222,715
interest saved
How gap financing works: The equity gap ($150,475) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($127,475 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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