Loan Comparison: 3.76% vs 6.5%
1775 Avery Plaza Street, Severance, CO 80550 · 2bd/1ba · $550,000
List Price
$550,000
Assumable Rate
3.76%
Remaining Balance
$350,637
Equity Gap
$199,363
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$199,363
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.76% + gap loan
$2,828/moAssumed loan: $1,626/mo
Gap financing: $1,202/mo
$475less per month with the assumable
Your Savings on This Property
1775 Avery Plaza Street, Severance · 3.76% FHA vs 6.5% conventional
$475
per month
$5,700
per year
$171,007
over 30 years
$171,007
interest saved
How gap financing works: The equity gap ($199,363) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($171,863 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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