Loan Comparison: 6.19% vs 6.5%
2124 Sandstone Drive, Fort Collins, CO 80524 · 4bd/3ba · $570,000
List Price
$570,000
Assumable Rate
6.19%
Remaining Balance
$479,532
Equity Gap
$90,467
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$90,467
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.19% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 6.19% + gap loan
$3,367/moAssumed loan: $2,934/mo
Gap financing: $433/mo
$55less per month with the assumable
Your Savings on This Property
2124 Sandstone Drive, Fort Collins · 6.19% FHA vs 6.5% conventional
$55
per month
$666
per year
$19,977
over 30 years
$19,976
interest saved
How gap financing works: The equity gap ($90,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($61,967 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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