Loan Comparison: 3.58% vs 6.5%
4404 Paintbrush Drive, Evans, CO 80620 · 2bd/2ba · $395,000
List Price
$395,000
Assumable Rate
3.58%
Remaining Balance
$253,886
Equity Gap
$141,114
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$141,114
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.58% (FHA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 3.58% + gap loan
$2,000/moAssumed loan: $1,151/mo
Gap financing: $849/mo
$372less per month with the assumable
Your Savings on This Property
4404 Paintbrush Drive, Evans · 3.58% FHA vs 6.5% conventional
$372
per month
$4,462
per year
$133,852
over 30 years
$133,852
interest saved
How gap financing works: The equity gap ($141,114) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($121,364 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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