Loan Comparison: 2.94% vs 6.5%
7819 Hill Crest Drive, Louviers, CO 80131 · 3bd/3ba · $924,900
List Price
$924,900
Assumable Rate
2.94%
Remaining Balance
$396,689
Equity Gap
$528,210
Loan Type
FHAAdjust Your Scenario
$46,245
$46,245$528,210
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 5.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,554/moAssumable @ 2.94% + gap loan
$5,030/moAssumed loan: $1,660/mo
Gap financing: $3,370/mo
$524less per month with the assumable
Your Savings on This Property
7819 Hill Crest Drive, Louviers · 2.94% FHA vs 6.5% conventional
$524
per month
$6,289
per year
$188,669
over 30 years
$188,668
interest saved
How gap financing works: The equity gap ($528,210) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($46,245, 5% of purchase price) and a second mortgage for the rest ($481,965 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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