Loan Comparison: 3.1% vs 6.5%
1353 Reynolds Street, Fort Lupton, CO 80601 · 5bd/4ba · $375,000
List Price
$375,000
Assumable Rate
3.1%
Remaining Balance
$292,968
Equity Gap
$82,031
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$82,031
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.1% + gap loan
$1,693/moAssumed loan: $1,251/mo
Gap financing: $442/mo
$558less per month with the assumable
Your Savings on This Property
1353 Reynolds Street, Fort Lupton · 3.1% FHA vs 6.5% conventional
$558
per month
$6,699
per year
$200,970
over 30 years
$200,969
interest saved
How gap financing works: The equity gap ($82,031) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($63,281 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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