Loan Comparison: 4% vs 6.5%
7739 Del Ray Bay Street, Fountain, CO 80817 · 3bd/3ba · $379,900
List Price
$379,900
Assumable Rate
4%
Remaining Balance
$131,808
Equity Gap
$248,092
Loan Type
FHAAdjust Your Scenario
$18,995
$18,995$248,092
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,281/moAssumable @ 4% + gap loan
$2,231/moAssumed loan: $629/mo
Gap financing: $1,602/mo
$50less per month with the assumable
Your Savings on This Property
7739 Del Ray Bay Street, Fountain · 4% FHA vs 6.5% conventional
$50
per month
$600
per year
$18,005
over 30 years
$18,005
interest saved
How gap financing works: The equity gap ($248,092) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,995, 5% of purchase price) and a second mortgage for the rest ($229,097 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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