Loan Comparison: 6.5% vs 6.5%
4173 Park Drive, Loveland, CO 80538 · 2bd/2ba · $409,000
List Price
$409,000
Assumable Rate
6.5%
Remaining Balance
$100,053
Equity Gap
$308,946
Loan Type
FHAAdjust Your Scenario
$20,450
$20,450$308,946
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 7.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,456/moAssumable @ 6.5% + gap loan
$2,650/moAssumed loan: $632/mo
Gap financing: $2,017/mo
Your Savings on This Property
4173 Park Drive, Loveland · 6.5% 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 ($308,946) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,450, 5% of purchase price) and a second mortgage for the rest ($288,496 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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