Loan Comparison: 2.9% vs 6.5%
2176 Day Spring Drive, Windsor, CO 80550 · 5bd/4ba · $797,000
List Price
$797,000
Assumable Rate
2.9%
Remaining Balance
$565,460
Equity Gap
$231,540
Loan Type
FHAAdjust Your Scenario
$39,850
$39,850$231,540
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,786/moAssumable @ 2.9% + gap loan
$3,694/moAssumed loan: $2,354/mo
Gap financing: $1,340/mo
$1,092less per month with the assumable
Your Savings on This Property
2176 Day Spring Drive, Windsor · 2.9% FHA vs 6.5% conventional
$1,092
per month
$13,101
per year
$393,035
over 30 years
$393,035
interest saved
How gap financing works: The equity gap ($231,540) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,850, 5% of purchase price) and a second mortgage for the rest ($191,690 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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