Loan Comparison: 6.88% vs 6.5%
1100 Taft Avenue, Loveland, CO 80537 · 4bd/3ba · $350,000
List Price
$350,000
Assumable Rate
6.88%
Remaining Balance
$10,775
Equity Gap
$339,225
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$339,225
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.88% (FHA)
Blended Rate: 7.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 6.88% + gap loan
$2,320/moAssumed loan: $71/mo
Gap financing: $2,250/mo
Your Savings on This Property
1100 Taft Avenue, Loveland · 6.88% 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 ($339,225) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($321,725 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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