Loan Comparison: 6.99% vs 6.5%
9052 Sandpiper Drive, Longmont, CO 80504 · 4bd/5ba · $570,000
List Price
$570,000
Assumable Rate
6.99%
Remaining Balance
$401,524
Equity Gap
$168,476
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$168,476
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.99% (FHA)
Blended Rate: 7.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 6.99% + gap loan
$3,647/moAssumed loan: $2,669/mo
Gap financing: $979/mo
Your Savings on This Property
9052 Sandpiper Drive, Longmont · 6.99% 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 ($168,476) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($139,976 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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