Loan Comparison: 3.95% vs 6.5%
1720 32nd Street, Evans, CO 80620 · 4bd/3ba · $339,900
List Price
$339,900
Assumable Rate
3.95%
Remaining Balance
$178,630
Equity Gap
$161,269
Loan Type
FHAAdjust Your Scenario
$16,995
$16,995$161,269
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.95% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,041/moAssumable @ 3.95% + gap loan
$1,856/moAssumed loan: $848/mo
Gap financing: $1,009/mo
$185less per month with the assumable
Your Savings on This Property
1720 32nd Street, Evans · 3.95% FHA vs 6.5% conventional
$185
per month
$2,214
per year
$66,430
over 30 years
$66,429
interest saved
How gap financing works: The equity gap ($161,269) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,995, 5% of purchase price) and a second mortgage for the rest ($144,274 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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