Loan Comparison: 3.72% vs 6.5%
1314 Saint Croix Place, Fort Collins, CO 80525 · 2bd/2ba · $549,000
List Price
$549,000
Assumable Rate
3.72%
Remaining Balance
$344,254
Equity Gap
$204,746
Loan Type
FHAAdjust Your Scenario
$27,450
$27,450$204,746
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,297/moAssumable @ 3.72% + gap loan
$2,828/moAssumed loan: $1,588/mo
Gap financing: $1,240/mo
$468less per month with the assumable
Your Savings on This Property
1314 Saint Croix Place, Fort Collins · 3.72% FHA vs 6.5% conventional
$468
per month
$5,621
per year
$168,636
over 30 years
$168,636
interest saved
How gap financing works: The equity gap ($204,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,450, 5% of purchase price) and a second mortgage for the rest ($177,296 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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