Loan Comparison: 4.14% vs 6.5%
7101 Shavano Circle, Frederick, CO 80504 · 3bd/2ba · $460,000
List Price
$460,000
Assumable Rate
4.14%
Remaining Balance
$328,109
Equity Gap
$131,891
Loan Type
FHAAdjust Your Scenario
$23,000
$23,000$131,891
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 4.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 4.14% + gap loan
$2,354/moAssumed loan: $1,593/mo
Gap financing: $761/mo
$408less per month with the assumable
Your Savings on This Property
7101 Shavano Circle, Frederick · 4.14% FHA vs 6.5% conventional
$408
per month
$4,893
per year
$146,778
over 30 years
$146,778
interest saved
How gap financing works: The equity gap ($131,891) 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 ($108,891 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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