Loan Comparison: 6.79% vs 6.5%
430 Thrush Place, Johnstown, CO 80534 · 4bd/3ba · $499,000
List Price
$499,000
Assumable Rate
6.79%
Remaining Balance
$245,725
Equity Gap
$253,275
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$253,275
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.79% (FHA)
Blended Rate: 7.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 6.79% + gap loan
$3,197/moAssumed loan: $1,600/mo
Gap financing: $1,596/mo
Your Savings on This Property
430 Thrush Place, Johnstown · 6.79% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($253,275) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($228,325 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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