Loan Comparison: 3.31% vs 6.5%
6421 Dry Fork Circle, Frederick, CO 80516 · 4bd/4ba · $534,900
List Price
$534,900
Assumable Rate
3.31%
Remaining Balance
$341,271
Equity Gap
$193,629
Loan Type
FHAAdjust Your Scenario
$26,745
$26,745$193,629
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.31% + gap loan
$2,663/moAssumed loan: $1,496/mo
Gap financing: $1,167/mo
$549less per month with the assumable
Your Savings on This Property
6421 Dry Fork Circle, Frederick · 3.31% FHA vs 6.5% conventional
$549
per month
$6,582
per year
$197,465
over 30 years
$197,465
interest saved
How gap financing works: The equity gap ($193,629) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,745, 5% of purchase price) and a second mortgage for the rest ($166,884 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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