Loan Comparison: 5.3% vs 6.5%
5236 Warrior Street, Frederick, CO 80504 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
5.3%
Remaining Balance
$336,367
Equity Gap
$33,633
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$33,633
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 5.3% + gap loan
$1,974/moAssumed loan: $1,868/mo
Gap financing: $106/mo
$248less per month with the assumable
Your Savings on This Property
5236 Warrior Street, Frederick · 5.3% FHA vs 6.5% conventional
$248
per month
$2,977
per year
$89,296
over 30 years
$89,296
interest saved
How gap financing works: The equity gap ($33,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($15,133 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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