Loan Comparison: 6.74% vs 6.5%
916 Timber Lane, Fort Collins, CO 80521 · 4bd/4ba · $559,900
List Price
$559,900
Assumable Rate
6.74%
Remaining Balance
$508,888
Equity Gap
$51,012
Loan Type
FHAAdjust Your Scenario
$27,995
$27,995$51,012
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.74% (FHA)
Blended Rate: 6.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,362/moAssumable @ 6.74% + gap loan
$3,458/moAssumed loan: $3,297/mo
Gap financing: $161/mo
Your Savings on This Property
916 Timber Lane, Fort Collins · 6.74% 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 ($51,012) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,995, 5% of purchase price) and a second mortgage for the rest ($23,017 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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