Loan Comparison: 6.6% vs 6.5%
1566 29th Street, Loveland, CO 80538 · 3bd/2ba · $425,000
List Price
$425,000
Assumable Rate
6.6%
Remaining Balance
$150,383
Equity Gap
$274,617
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$274,617
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.6% (FHA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 6.6% + gap loan
$2,732/moAssumed loan: $960/mo
Gap financing: $1,772/mo
Your Savings on This Property
1566 29th Street, Loveland · 6.6% 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 ($274,617) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($253,367 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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