Loan Comparison: 3.83% vs 6.5%
4400 Paintbrush Drive, Evans, CO 80620 · 5bd/4ba · $395,000
List Price
$395,000
Assumable Rate
3.83%
Remaining Balance
$149,831
Equity Gap
$245,169
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$245,169
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.83% (FHA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.83% + gap loan
$2,277/moAssumed loan: $701/mo
Gap financing: $1,576/mo
$95less per month with the assumable
Your Savings on This Property
4400 Paintbrush Drive, Evans · 3.83% FHA vs 6.5% conventional
$95
per month
$1,140
per year
$34,187
over 30 years
$34,187
interest saved
How gap financing works: The equity gap ($245,169) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($225,419 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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