Loan Comparison: 3.07% vs 6.5%
225 Swallow Road, Johnstown, CO 80534 · 4bd/3ba · $510,000
List Price
$510,000
Assumable Rate
3.07%
Remaining Balance
$430,397
Equity Gap
$79,602
Loan Type
FHAAdjust Your Scenario
$25,500
$25,500$79,602
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 3.07% + gap loan
$2,209/moAssumed loan: $1,831/mo
Gap financing: $378/mo
$853less per month with the assumable
Your Savings on This Property
225 Swallow Road, Johnstown · 3.07% FHA vs 6.5% conventional
$853
per month
$10,239
per year
$307,159
over 30 years
$307,158
interest saved
How gap financing works: The equity gap ($79,602) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($54,102 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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