Loan Comparison: 3.11% vs 6.5%
451 Heritage Lane, Johnstown, CO 80534 · 3bd/3ba · $450,500
List Price
$450,500
Assumable Rate
3.11%
Remaining Balance
$330,091
Equity Gap
$120,409
Loan Type
FHAAdjust Your Scenario
$22,525
$22,525$120,409
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.11% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,705/moAssumable @ 3.11% + gap loan
$2,096/moAssumed loan: $1,411/mo
Gap financing: $684/mo
$609less per month with the assumable
Your Savings on This Property
451 Heritage Lane, Johnstown · 3.11% FHA vs 6.5% conventional
$609
per month
$7,312
per year
$219,362
over 30 years
$219,362
interest saved
How gap financing works: The equity gap ($120,409) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,525, 5% of purchase price) and a second mortgage for the rest ($97,884 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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