Loan Comparison: 6.3% vs 6.5%
8929 Celebrity Court, Fountain, CO 80817 · 4bd/2ba · $450,000
List Price
$450,000
Assumable Rate
6.3%
Remaining Balance
$375,240
Equity Gap
$74,759
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$74,759
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.3% (FHA)
Blended Rate: 6.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.3% + gap loan
$2,688/moAssumed loan: $2,323/mo
Gap financing: $365/mo
$14less per month with the assumable
Your Savings on This Property
8929 Celebrity Court, Fountain · 6.3% FHA vs 6.5% conventional
$14
per month
$169
per year
$5,060
over 30 years
$5,059
interest saved
How gap financing works: The equity gap ($74,759) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($52,259 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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