Loan Comparison: 3.09% vs 6.5%
11216 Berry Farm Road, Fountain, CO 80817 · 5bd/3ba · $390,000
List Price
$390,000
Assumable Rate
3.09%
Remaining Balance
$300,468
Equity Gap
$89,531
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$89,531
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (FHA)
Blended Rate: 3.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.09% + gap loan
$1,771/moAssumed loan: $1,281/mo
Gap financing: $490/mo
$571less per month with the assumable
Your Savings on This Property
11216 Berry Farm Road, Fountain · 3.09% FHA vs 6.5% conventional
$571
per month
$6,849
per year
$205,462
over 30 years
$205,461
interest saved
How gap financing works: The equity gap ($89,531) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($70,031 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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