Loan Comparison: 5.22% vs 6.5%
705 Country Acres Drive, Johnstown, CO 80534 · 5bd/4ba · $489,900
List Price
$489,900
Assumable Rate
5.22%
Remaining Balance
$393,433
Equity Gap
$96,467
Loan Type
FHAAdjust Your Scenario
$24,495
$24,495$96,467
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 5.22% + gap loan
$2,668/moAssumed loan: $2,165/mo
Gap financing: $503/mo
$273less per month with the assumable
Your Savings on This Property
705 Country Acres Drive, Johnstown · 5.22% FHA vs 6.5% conventional
$273
per month
$3,278
per year
$98,349
over 30 years
$98,349
interest saved
How gap financing works: The equity gap ($96,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,495, 5% of purchase price) and a second mortgage for the rest ($71,972 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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